JPMorgan raised the firm’s price target on Sage Therapeutics to $29 from $24 and keeps an Overweight rating on the shares. The analyst says there are multiple dalzanemdor readouts expected in 2024. While the Zurzuvae launch remains a central focus, 2024 pipeline updates for Sage remain underappreciated, the analyst tells investors in a research note. Based on the firm’s model, the value of Zurzuvae in postpartum depression alone plus Sage’s cash is worth high-teens to low-$20s per share. It now includes dalzanemdor for Huntington’s disease in the model.
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