HC Wainwright upgraded shares of Cassava Sciences (NASDAQ:SAVA - Free Report) from a neutral rating to a buy rating in a research note published on Tuesday, Marketbeat reports. They currently have $116.00 price objective on the stock.
Separately, Rodman & Renshaw reiterated a buy rating and set a $107.00 price objective on shares of Cassava Sciences in a report on Thursday, August 8th.
Get Our Latest Stock Analysis on Cassava Sciences
Cassava Sciences Stock Performance
SAVA stock traded up $0.64 during mid-day trading on Tuesday, hitting $26.05. 7,200,261 shares of the company were exchanged, compared to its average volume of 1,744,965. Cassava Sciences has a 1-year low of $8.79 and a 1-year high of $42.20. The firm's 50 day simple moving average is $27.97 and its 200 day simple moving average is $22.09. The firm has a market cap of $1.25 billion, a P/E ratio of -12.00 and a beta of -0.63.
Cassava Sciences (NASDAQ:SAVA - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of ($0.44) by $0.57. During the same quarter in the prior year, the firm earned ($0.63) earnings per share. On average, equities research analysts predict that Cassava Sciences will post -5.7 EPS for the current fiscal year.
Institutional Investors Weigh In On Cassava Sciences
Several institutional investors and hedge funds have recently added to or reduced their stakes in SAVA. EntryPoint Capital LLC increased its position in shares of Cassava Sciences by 1,251.2% in the first quarter. EntryPoint Capital LLC now owns 2,297 shares of the company's stock valued at $47,000 after acquiring an additional 2,127 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in shares of Cassava Sciences during the 2nd quarter worth approximately $131,000. Arizona State Retirement System boosted its holdings in shares of Cassava Sciences by 4.2% in the 2nd quarter. Arizona State Retirement System now owns 11,495 shares of the company's stock valued at $142,000 after buying an additional 468 shares during the last quarter. NBC Securities Inc. grew its stake in shares of Cassava Sciences by 9.3% in the first quarter. NBC Securities Inc. now owns 7,650 shares of the company's stock valued at $155,000 after buying an additional 650 shares in the last quarter. Finally, Profund Advisors LLC increased its holdings in Cassava Sciences by 4.6% during the second quarter. Profund Advisors LLC now owns 13,440 shares of the company's stock worth $166,000 after buying an additional 591 shares during the last quarter. 38.05% of the stock is owned by institutional investors.
Cassava Sciences Company Profile
(
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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.
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