Canaccord raised the firm’s price target on Sage Therapeutics (SAGE) to $8.50 from $8 and keeps a Hold rating on the shares. The firm noted Supernus Pharmaceuticals (SUPN) announced that it is buying Sage for $8.50/share or roughly $561mn in cash. The transaction also includes a non-tradable contingent value right (CVR) of up to $3.50/share or up to about $234mn based on some milestones related to Biogen (BIIB)/Sage’s Zurzuvae (zuranolone), which is approved and on the market in the US for post-partum depression (PPD).
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SAGE:
- Hold Rating on SAGE Therapeutics Amid Acquisition Offer and CVR Uncertainties
- Sage Therapeutics moved to No Rating at BofA
- Sage Therapeutics downgraded to Neutral from Overweight at Piper Sandler
- Sarepta suspends Elevidys shipments, Supernus acquires Sage: Morning Buzz
- Morning Movers: Sage Therapeutics surges after deal to be acquired by Supernus