Sage Therapeutics price target raised to $66 from $61 at BofA

BofA raised the firm’s price target on Sage Therapeutics (SAGE) to $66 from $61 and keeps a Buy rating on the shares after adjusting postpartum depression, or PPD, assumptions based on recent key opinion leader discussions that “emphasize all PPD patients should have access to zuranolone.” The firm now assumes 25% and 20% U.S. and EU peak penetration for zuranolone, respectively, in the entire PPD population, which equates to about 500,000 U.S. patients and about 620,000 EU patients. The firm also sees upside to its estimates if Sage and Biogen (BIIB) can overcome potential uptake limitations.