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
€11.13
-0.180%
Currently there is a rather positive sentiment for Sage Therapeutics Inc. with 8 Buy predictions and 4 Sell predictions.
With a target price of 25 € there is potential for a 124.72% increase which would mean more than doubling the current price of 11.13 € for Sage Therapeutics Inc..
