Cassava Sciences (NASDAQ:SAVA) Earns “Buy” Rating from Maxim Group

Maxim Group reiterated their buy rating on shares of Cassava Sciences (NASDAQ:SAVA) in a research note released on Tuesday morning, reports. The brokerage currently has a $3.00 price objective on the stock.

“Cassava reported positive Phase 2a data for PTI-125 in Alzheimer’s disease (AD). This trial was a first-in-patient study for this compound and the positive results suggest an early signal of efficacy. A larger P2b is expected to initiate in 3Q19.”,” the firm’s analyst wrote.

SAVA has been the topic of several other reports. HC Wainwright restated a buy rating and issued a $3.00 price objective on shares of Cassava Sciences in a report on Friday, August 16th. ValuEngine lowered shares of Cassava Sciences from a hold rating to a sell rating in a report on Wednesday, September 4th.

Shares of Cassava Sciences stock remained flat at $$1.23 during mid-day trading on Tuesday. 14,305 shares of the stock traded hands, compared to its average volume of 439,762. The business’s 50-day simple moving average is $1.26. Cassava Sciences has a twelve month low of $0.76 and a twelve month high of $2.99. The company has a market cap of $21.61 million, a P/E ratio of -2.02 and a beta of 1.68.

Cassava Sciences (NASDAQ:SAVA) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.04. Research analysts predict that Cassava Sciences will post -0.45 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Cassava Sciences stock. Envestnet Asset Management Inc. lifted its stake in Cassava Sciences Inc (NASDAQ:SAVA) by 23.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 62,892 shares of the company’s stock after acquiring an additional 12,104 shares during the quarter. Envestnet Asset Management Inc. owned 0.37% of Cassava Sciences worth $76,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 19.49% of the company’s stock.

Cassava Sciences Company Profile

Cassava Sciences, Inc, a clinical-stage drug development company, develops drugs for nervous system disorders. The company's lead therapeutic product candidate PTI-125, a small molecule drug that is in Phase II clinical trial for the treatment of Alzheimer's disease. It is also developing PTI-125Dx, a blood-based biomarker/diagnostic to detect Alzheimer's disease.

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