Fintel reports that on August 7, 2023, RBC Capital downgraded their outlook for Sage Therapeutics (NASDAQ:SAGE) from Outperform to Sector Perform.

Analyst Price Forecast Suggests 273.15% Upside

As of August 2, 2023, the average one-year price target for Sage Therapeutics is 62.50. The forecasts range from a low of 37.37 to a high of $110.25. The average price target represents an increase of 273.15% from its latest reported closing price of 16.75.

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The projected annual revenue for Sage Therapeutics is 118MM, an increase of 1,039.90%. The projected annual non-GAAP EPS is -8.46.

What is the Fund Sentiment?

There are 493 funds or institutions reporting positions in Sage Therapeutics. This is an increase of 21 owner(s) or 4.45% in the last quarter. Average portfolio weight of all funds dedicated to SAGE is 0.19%, an increase of 15.09%. Total shares owned by institutions increased in the last three months by 2.36% to 59,018K shares. The put/call ratio of SAGE is 1.16, indicating a bearish outlook.

What are Other Shareholders Doing?

Wellington Management Group Llp holds 5,714K shares representing 9.56% ownership of the company. In it’s prior filing, the firm reported owning 5,516K shares, representing an increase of 3.47%. The firm increased its portfolio allocation in SAGE by 12.64% over the last quarter.

Bellevue Group holds 3,090K shares representing 5.17% ownership of the company. In it’s prior filing, the firm reported owning 2,969K shares, representing an increase of 3.91%. The firm increased its portfolio allocation in SAGE by 25.18% over the last quarter.

FDGRX – Fidelity Growth Company Fund holds 2,398K shares representing 4.01% ownership of the company. In it’s prior filing, the firm reported owning 1,874K shares, representing an increase of 21.88%. The firm increased its portfolio allocation in SAGE by 35.32% over the last quarter.

Price T Rowe Associates holds 1,908K shares representing 3.19% ownership of the company. In it’s prior filing, the firm reported owning 1,897K shares, representing an increase of 0.58%. The firm increased its portfolio allocation in SAGE by 2.98% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 1,581K shares representing 2.64% ownership of the company. In it’s prior filing, the firm reported owning 1,552K shares, representing an increase of 1.82%. The firm increased its portfolio allocation in SAGE by 3.46% over the last quarter.

Sage Therapeutics Background Information
(This description is provided by the company.)

Sage Therapeutics is a biopharmaceutical company committed to developing novel therapies with the potential to transform the lives of people with debilitating disorders of the brain. The Company is pursuing new pathways with the goal of improving brain health, and its depression, neurology and neuropsychiatry franchise programs aim to change how brain disorders are thought about and treated. Its mission is to make medicines that matter so people can get better, sooner.

This article originally appeared on Fintel

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