Cassava Sciences (NASDAQ:SAVA) Given a $3.00 Price Target at HC Wainwright

HC Wainwright set a $3.00 price objective on Cassava Sciences (NASDAQ:SAVA) in a research report sent to investors on Friday morning, TipRanks reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on SAVA. ValuEngine lowered shares of Cassava Sciences from a hold rating to a sell rating in a research note on Wednesday, September 4th. Maxim Group restated a buy rating and set a $3.00 price target on shares of Cassava Sciences in a research report on Tuesday, September 10th.

Shares of SAVA stock remained flat at $$1.22 during mid-day trading on Friday. 254,509 shares of the stock traded hands, compared to its average volume of 449,101. The business’s 50-day 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 $21.02 million, a P/E ratio of -2.00 and a beta of 1.68.

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

A hedge fund recently raised its stake in Cassava Sciences stock. Renaissance Technologies LLC increased its stake in shares of Cassava Sciences Inc (NASDAQ:SAVA) by 16.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 682,792 shares of the company’s stock after purchasing an additional 98,900 shares during the period. Renaissance Technologies LLC owned 3.97% of Cassava Sciences worth $826,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 19.49% of the company’s stock.

About Cassava Sciences

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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