Truist analyst Joon Lee raised the firm’s price target on Sage Therapeutics (SAGE) to $9 from $8 and keeps a Hold rating on the shares. The firm is citing the company’s announcement that it is being acquired by Supernus (SUPN) for $8.50 per share in a deal expected to close in Q3 as it also sees the probability-adjusted value of CVR – contingent value right – at $1 per share, the analyst tells investors in a research note.
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Read More on SAGE:
- Hold Rating on SAGE Therapeutics Amid Uncertainty and Acquisition Developments
- Sage Therapeutics price target raised to $8.50 from $8 at Canaccord
- 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