Why Sage Therapeutics Gained 70% Today
Shares of Sage Therapeutics (NASDAQ: SAGE), a clinical-stage biotech, took flight today, after the company announced positive mid-stage trial results for its moderate-to-severe major depressive disorder (MDD) treatment, dubbed "SAGE-217."
According to the company, SAGE-217 produced a highly significant mean reduction in the Hamilton Rating Scale for Depression among patients taking the drug, compared with those receiving a placebo. The drug was also reportedly well tolerated, with only a handful of patients discontinuing its use because of adverse side effects. Sage's shares ended the day higher by a noteworthy 70% on nearly 10 times the average daily volume as a result of this clinical update.
Image source: Getty Images.
Source: Fool.com
Sage Therapeutics Inc. Stock
€12.59
-3.520%
Our community is currently high on Sage Therapeutics Inc. with 5 Buy predictions and 3 Sell predictions.
Based on the current price of 12.59 € the target price of 26 € shows a potential of 106.51% for Sage Therapeutics Inc. which would more than double the current price.
