Supernus Pharmaceuticals' acquisition of Sage Therapeutics has advanced as the antitrust review period has ended. The merger is still subject to additional requirements, and the Offer to Purchase is set to expire shortly. Analysts forecast an average target price of $8.47 for Sage Therapeutics, with a high estimate of $12.00 and a low estimate of $5.00. The estimated GF Value for Sage Therapeutics in one year is $188.59, suggesting a 2043.07% upside from the current price.
Supernus Pharmaceuticals (NASDAQ: SUPN) has announced the expiration of the Hart-Scott-Rodino (HSR) waiting period for its proposed acquisition of Sage Therapeutics (NASDAQ: SAGE). The tender offer, which includes a cash payment of $8.50 per share plus one non-transferable contingent value right (CVR) worth up to $3.50 per share based on milestone achievements, is set to expire on July 30, 2025 [1].
The HSR Act waiting period expired at 11:59 p.m. Eastern Time on July 25, 2025, satisfying one of the conditions to consummate the Offer. The Offer continues to be subject to remaining conditions set forth in the Offer to Purchase, dated July 2, 2025 [1].
The Offer and withdrawal rights for all outstanding shares of common stock of Sage in exchange for $8.50 per share in cash, plus one CVR worth up to $3.50 per share, expires at one minute following 11:59 p.m., Eastern Time, on July 30, 2025 [1]. The CVR milestones include payments based on commercial sales of ZURZUVAE in Japan and the United States, with potential milestone payments ranging from $0.50 to $1.00 per CVR [1].
Upon completion of the Offer, Supernus intends to acquire Sage through a merger, making Sage a wholly-owned subsidiary. The merger is subject to certain conditions, including regulatory approvals and completion of the Offer [1].
Analysts forecast an average target price of $8.47 for Sage Therapeutics, with a high estimate of $12.00 and a low estimate of $5.00. The estimated GF Value for Sage Therapeutics in one year is $188.59, suggesting a 2043.07% upside from the current price [2].
References:
[1] https://www.stocktitan.net/news/SUPN/supernus-pharmaceuticals-announces-expiration-of-hart-scott-rodino-qa8krmba0ts2.html
[2] [Provide Analyst Forecast Source]
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