Scotiabank lowered the firm’s price target on Sage Therapeutics to $19 from $34 and keeps an Outperform rating on the shares. The “complete lack” of improved cognitive performance in the company’s Phase 2 PRECEDENT trial evaluating dalzanemdor does “not bode well” for the development program, the analyst tells investors. The firm notes, however, there is a glimmer of hope, for the drug may perform better with patients with Huntington’s disease.
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