Sage Therapeutics' SAGE-718 Gets FDA ODD; Bullish View On TeraWulf
- October 18th, 2023
- 580 views
Shares of Sage Therapeutics, Inc. (Nasdaq: SAGE), a leading biopharmaceutical company specializing in neurological and neuropsychiatric disorders, surged over 5% in pre-market trading after the company said that the U.S. Food and Drug Administration (FDA) granted Orphan Drug Designation (ODD) to SAGE-718, a potential treatment for Huntington’s disease (HD).
HD, a rare and progressive neurodegenerative condition, impacts an estimated 40,000 U.S. adults annually, with severe cognitive effects.
$SAGE was trading at $21.05 in pre-market, up $1.41 (7.18%).
In other news, Stifel has initiated coverage on TeraWulf Inc. (Nasdaq: WULF), an infrastructure-focused bitcoin mining company, with a Buy rating and set a price target of $3.
Based on Tuesday's closing price of $1.24, the assigned price target implies a potential upside of $1.76 or approximately 141.94% for $WULF, according to the investment banking firm's view.
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