Cassava Sciences’ (SAVA) Buy Rating Reiterated at HC Wainwright

Cassava Sciences (NASDAQ:SAVA)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a report released on Friday,Benzinga reports. They currently have a $116.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 357.05% from the stock’s previous close.

Separately, Rodman & Renshaw restated a “buy” rating and issued a $107.00 target price on shares of Cassava Sciences in a research note on Thursday, August 8th.

Cassava Sciences Stock Up 0.2 %

SAVA traded up $0.04 on Friday, hitting $25.38. The company’s stock had a trading volume of 692,919 shares, compared to its average volume of 1,703,738. Cassava Sciences has a 12 month low of $8.79 and a 12 month high of $42.20. The firm has a market cap of $1.22 billion, a P/E ratio of -18.00 and a beta of -0.59. The company’s 50 day simple moving average is $27.75 and its 200-day simple moving average is $22.96.

Cassava Sciences (NASDAQ:SAVA) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.58) EPS for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.79. During the same period in the prior year, the business earned ($0.61) earnings per share. Equities analysts predict that Cassava Sciences will post -5.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cassava Sciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new position in shares of Cassava Sciences in the third quarter valued at about $10,610,000. Vanguard Group Inc. increased its stake in shares of Cassava Sciences by 1.4% during the first quarter. Vanguard Group Inc. now owns 2,356,480 shares of the company’s stock valued at $47,813,000 after buying an additional 31,854 shares during the period. Bank of New York Mellon Corp lifted its stake in Cassava Sciences by 18.1% in the second quarter. Bank of New York Mellon Corp now owns 140,847 shares of the company’s stock worth $1,739,000 after acquiring an additional 21,558 shares during the period. SG Americas Securities LLC purchased a new position in Cassava Sciences during the 3rd quarter valued at $514,000. Finally, Aristides Capital LLC bought a new position in Cassava Sciences in the 2nd quarter worth $201,000. Institutional investors own 38.05% of the company’s stock.

Cassava Sciences Company Profile

Cassava Sciences, Inc, a clinical stage biotechnology company, develops drugs for neurodegenerative diseases. Its lead therapeutic product candidate is simufilam, a small molecule drug, which is completed Phase 2 clinical trial; and investigational diagnostic product candidate is SavaDx, a blood-based biomarker/diagnostic to detect Alzheimer's disease.