Piper Sandler downgraded Sage Therapeutics (SAGE) to Neutral from Overweight with a price target of $8.50, down from $9, after the company entered into an agreement for Supernus to acquire it through a tender offer for $8.50 per share in cash plus one non-tradable contingent value right collectively worth up to $3.50 per share in cash.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SAGE:
- Sarepta suspends Elevidys shipments, Supernus acquires Sage: Morning Buzz
- Morning Movers: Sage Therapeutics surges after deal to be acquired by Supernus
- Video: Sarepta, Hinge Health among major pre-market movers
- SAGE Therapeutics Announces Merger with Supernus Pharmaceuticals
- Supernus to acquire Sage Therapeutics for $8.50 per share in cash plus CVR