Today’s Research Reports on Stocks to Watch: Sage Therapeutics and Nektar Therapeutics
NEW YORK, NY / ACCESSWIRE / December 8, 2017 / Sage Therapeutics headed higher on Thursday and hit a brand new high after announcing that its depressive disorder MDD treatment SAGE-217 had seen positive mid-stage trial results. The stock also got price target increases from analysts. Shares of Nektar Therapeutics also soared higher despite any significant news.
RDI Initiates Coverage on:
Nektar Therapeutics
http://www.rdinvesting.com/report/?ticker=NKTR
Sage Therapeutics, Inc.
http://www.rdinvesting.com/report/?ticker=SAGE
Sage Therapeutics, Inc. shares blasted off on Thursday, closing the day up 70.04% on staggering trading volume compared to usual. The stock traded nearly 8.5 million shares yesterday compared to an average of just about 850,000. Shares also hit a brand new high of $169.58 during intra-day trading after the clinical-stage biotech company announced that its moderate to severe major depressive disorder MDD treatment SAGE-217 had seen positive mid-stage trial results. The company said the treatment had produced a highly significant mean reduction in the Hamilton Rating Scale for Depression among patients taking the drug, compared with patients who had received a placebo. According to Leerink analysts, "With the caveat of cross-trial comparisons, this difference is both larger — and attained faster — than what's observed for other antidepressants today." The firm has upped its price target on the stock from $123 to $246. RBC analysts also raised their price target to $280.
Access RDI's Nektar Therapeutics Research Report at:
http://www.rdinvesting.com/report/?ticker=NKTR
Nektar Therapeutics shares closed up 10.34% on nearly 2.9 million shares traded on Thursday. There was no remarkable news from the company yesterday but last month shares had also soared over 100% according to S&P Global Market Intelligence. Last month the company reported its third-quarter results that revealed revenue growing to $152.9 million from $36.3 million. This increase is revenue was due to receiving the $128 million from Eli Lily. Eli Lilly had agreed to pay $150 million upfront payment on their partnership on NKTR-358, a pre-clinical-stage autoimmune-disease therapy. It was in September that the company announced positive data from its Phase 3 efficacy trial SUMMIT-07 that evaluated an investigational first-in-class opioid analgesic called NKTR-181 in reducing pain in opioid-naïve patients suffering from chronic lower back pain. The drug met all primary and secondary endpoints in the trial and has already received fast-track designation from the FDA.
Access RDI's Sage Therapeutics, Inc. Research Report at:
http://www.rdinvesting.com/report/?ticker=SAGE
Our Actionable Research on Nektar Therapeutics (NASDAQ: NKTR) and Sage Therapeutics, Inc. (NASDAQ: SAGE) can be downloaded free of charge at Research Driven Investing.
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