Sage Therapeutics price target raised to $28 from $25 at H.C. Wainwright

H.C. Wainwright analyst Douglas Tsao raised the firm’s price target on Sage Therapeutics to $28 from $25 and keeps a Neutral rating on the shares after the company reported $824,000 in collaboration revenue during the fourth quarter of 2023 for Zurzuvae and a total of 120 prescriptions in December, above the firm’s estimates. In the roughly 10 days it was commercially available to patients, Zurzuvae generated steadily increasing demand, which is “a positive sign,” but it is still early to firmly assess its reach and full potential in the market, the analyst added.