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Msg  35262 of 35723  at  11/27/2020 11:49:02 AM  by

PriceTellsAll


SAGE down almost 11%

 

BUZZ-Sage Therapeutics reverses course to fall after Biogen deal - Reuters News

27-Nov-2020 10:28:46 AM


Updates

** 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%





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Msg # Subject Author Recs Date Posted
35264 Re: SAGE down almost 11% longek71 9 11/27/2020 5:15:31 PM








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