Canaccord Genuity Downgrades Sage Therapeutics to Hold, Lowers Price Target to $21
Portfolio Pulse from richadhand@benzinga.com
Canaccord Genuity analyst Sumant Kulkarni has downgraded Sage Therapeutics from Buy to Hold and lowered the price target from $64 to $21.
August 08, 2023 | 11:05 am
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Sage Therapeutics has been downgraded from Buy to Hold by Canaccord Genuity, with a lowered price target from $64 to $21.
The downgrade from Buy to Hold indicates a less optimistic outlook for the company's stock. The significant reduction in the price target from $64 to $21 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