In a report released today, Anupam Rama from J.P. Morgan maintained a Hold rating on SAGE Therapeutics (SAGE – Research Report), with a price target of $9.00.
Anupam Rama has given his Hold rating due to a combination of factors related to SAGE Therapeutics’ current market position and future prospects. The analyst acknowledges the potential of Zurzuvae in treating postpartum depression (PPD), viewing it as a significant long-term opportunity. However, the anticipated growth trajectory for this product is expected to be gradual rather than experiencing a rapid increase in the near term.
Given the current valuation levels, SAGE’s stock is perceived as performing in line with the broader market. The December 2025 price target of $9 is based on a peak sales analysis, applying a conservative 3x sales multiple due to low disease awareness and the need for market education. Additionally, a 9% discount rate is used, reflecting the inherent risks and uncertainties in the biotech sector.