|
|
Biotech
|
|
||
SAGE down almost 11%BUZZ-Sage Therapeutics reverses course to fall after Biogen deal - Reuters News27-Nov-2020 10:28:46 AMUpdates ** Biopharma co's shares SAGE.O reverse course to fall 8.67% to $75.52 ** Co says it will collaborate with Biogen Inc BIIB.O to develop and sell two drugs for neurological disorders - zuranolone (SAGE-217) and SAGE-324 - in the United States (Full Story) ** "Bears argue: 50% of SAGE-217's U.S. value is gone so the long-term upside value decreases ....SAGE could have waited after the Phase III data (for SAGE-217)," says Jefferies ** SAGE-217 had failed a closely-watched study in Dec 2019 ** "Ultimately, we think the deal is generally positive for SAGE since it maximizes the value of both drugs globally," says Jefferies ** SAGE opened at a one-year high of $86.25 before falling to a session low of $76.57 ** Seven of 20 analysts rate SAGE stock "strong buy", while 6 rate "buy" and 7 "hold"; their median PT is $88.5 - Refinitiv data ** YTD, shares are up 6.7% |
return to message board, top of board |
Msg # | Subject | Author | Recs | Date Posted |
35264 | Re: SAGE down almost 11% | longek71 | 9 | 11/27/2020 5:15:31 PM |