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

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HC Wainwright reiterated their buy rating on shares of Cassava Sciences (NASDAQ:SAVA) in a report published on Friday, The Fly reports. HC Wainwright currently has a $6.00 target price on the stock, up from their prior target price of $3.00.

Several other analysts have also recently commented on the company. ValuEngine upgraded Cassava Sciences from a strong sell rating to a sell rating in a research report on Tuesday, November 12th. Maxim Group restated a buy rating and issued a $3.00 price objective on shares of Cassava Sciences in a report on Wednesday, September 18th. Finally, Zacks Investment Research upgraded Cassava Sciences from a hold rating to a strong-buy rating and set a $1.50 price objective on the stock in a report on Thursday, November 14th.

SAVA stock traded down $0.01 during trading on Friday, hitting $1.79. The stock had a trading volume of 34,594,188 shares, compared to its average volume of 372,773. Cassava Sciences has a twelve month low of $0.76 and a twelve month high of $2.55. The stock has a market capitalization of $30.82 million, a P/E ratio of -2.93 and a beta of 1.85. The company’s 50-day moving average price is $1.35 and its two-hundred day moving average price is $1.30.

Cassava Sciences (NASDAQ:SAVA) last announced its earnings results on Tuesday, October 29th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. As a group, equities analysts anticipate that Cassava Sciences will post -0.32 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Cassava Sciences stock. Renaissance Technologies LLC boosted its holdings in shares of Cassava Sciences Inc (NASDAQ:SAVA) by 16.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 682,792 shares of the company’s stock after acquiring an additional 98,900 shares during the period. Renaissance Technologies LLC owned 3.97% of Cassava Sciences worth $826,000 at the end of the most recent reporting period. 10.72% of the stock is owned by hedge funds and other institutional investors.

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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