Sage Therapeutics price target raised to $28 from $27 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Sage Therapeutics to $28 from $27 and keeps a Neutral rating on the shares. Despite the lower than expected Q4 revenue, shares traded up after earnings on encouraging initial launch updates for Zurzuvae, including about 120 prescriptions written in the 10 day-period immediately post the mid-December launch and coverage by payors for a vast majority of prescriptions, the analyst tells investors in a research note. These initial updates are positive, though the firm continues to monitor commercial execution on the launch, Goldman Sachs added.