SAGE - Is Sage Therapeutics Stock in Trouble After Dropping 50% in a Month?
2023-08-24 05:10:00 ET
News from the Food and Drug Administration (FDA) can often make or break a stock. This month, it broke Sage Therapeutics (NASDAQ: SAGE) .
Although the company obtained approval for its depression treatment zuranolone, it was for postpartum depression only. The FDA didn't approve it for major depressive disorder.
The partial approval significantly limits the upside for the drug and it sent growth investors into a panic. As a result, the stock price has crashed more than 50% in just the past month. Does Sage Therapeutics make for a good contrarian buy, or is the business in real trouble?
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Is Sage Therapeutics Stock in Trouble After Dropping 50% in a Month?