Two Afternoon Analyst Calls Of Note For Tuesday, July 9th

Below are two notable analyst calls from this afternoon on small biotech stocks

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The biotech sector is having a nice day after a judge blocked an administrative directive for drug companies to disclose pricing on all TV commercials. The SPDR Biotech ETF (XBI) was up just over one percent as we hit the midway point in the trading day. Earlier today, we posted a piece on four small biotech stocks that received analyst 'shout outs' this morning. Now we take a quick look at two small biotech equities getting some positive analyst mention as we head into afternoon trading.

Sage Therapeutics (SAGE) is seeing its first analyst commentary since May 22nd. Stifel Nicolaus reissued its Overweight rating and $240 price target on the stock a few hours ago. Stifel's analyst listed two key reasons for his optimism for the shares.

  1. SAGE-217 should show signs of efficacy in bipolar depression which could boost the share price but even if it didn't, he believes bipolar poses little-to-no readthrough onto the more important SAGE-217 ph3 trial in MDD.

  2. Sage is expected to offer a pipeline update on 7/24 which may include: early SAGE-324 results in essential tremor, the first look at SAGE-718 and other analyses that support moving '217 into new indications, such as anxiety/treatment-resistant depression.

Aegis Capital also just initiated Acasti Pharma (ACST) as a new Buy with a $3.00 price target. Aegis provided this brief commentary for their rating initiation.

We are launching coverage on ACST with a buy rating and $3.00 PT and we believe Acasti will endeavor to advance towards commercializing CaPre potentially as early as 2021.”

There was a recent article on SeekingAlpha that provides a much deeper investment analysis around this 'off the radar' name.

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