RBC Capital Downgrades Sage Therapeutics to Sector Perform, Lowers Price Target to $25
Portfolio Pulse from richadhand@benzinga.com
RBC Capital analyst Brian Abrahams has downgraded Sage Therapeutics (NASDAQ:SAGE) from Outperform to Sector Perform and lowered the price target from $71 to $25.
August 07, 2023 | 9:30 am
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Sage Therapeutics has been downgraded by RBC Capital from Outperform to Sector Perform, with a reduced price target of $25.
The downgrade by RBC Capital from Outperform to Sector Perform indicates a less optimistic outlook for the company. The significant reduction in the price target from $71 to $25 suggests that the analyst believes the stock is overvalued at its current price, which could lead to a decrease in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100