Cassava Sciences (NASDAQ:SAVA) Announces Quarterly Earnings Results

Cassava Sciences (NASDAQ:SAVA) announced its quarterly earnings data on Thursday. The company reported ($0.58) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.79, Briefing.com reports. During the same period in the prior year, the company posted ($0.61) earnings per share.

Cassava Sciences Stock Up 6.4 %

Shares of NASDAQ SAVA traded up $1.61 during mid-day trading on Friday, reaching $26.95. 2,036,051 shares of the company were exchanged, compared to its average volume of 1,709,910. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -19.11 and a beta of -0.59. Cassava Sciences has a 1 year low of $8.79 and a 1 year high of $42.20. The firm has a 50-day moving average of $27.72 and a 200 day moving average of $23.01.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SAVA. HC Wainwright reissued a “buy” rating and set a $116.00 price target on shares of Cassava Sciences in a research report on Friday. Rodman & Renshaw reissued a “buy” rating and set a $107.00 price target on shares of Cassava Sciences in a research report on Thursday, August 8th.

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.