Scotiabank raised the firm’s price target on Sage Therapeutics to $27 from $24 and keeps an Outperform rating on the shares. The company’s cost-cutting measures extend its cash runway into 2026, the analyst tells investors in a research note. The firm lifted the price target based on a sum-of-the-parts analysis of estimated risk-adjusted profits related to sales of Zurzuvae in postpartum depression, SAGE-324 and SAGE-718 only. It views Sage shares as oversold.
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