Cassava Sciences (NASDAQ:SAVA) Stock Rating Upgraded by ValuEngine

Cassava Sciences (NASDAQ:SAVA) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.

SAVA has been the subject of a number of other reports. HC Wainwright set a $3.00 price objective on shares of Cassava Sciences and gave the stock a “buy” rating in a research report on Friday, September 13th. Zacks Investment Research raised shares of Cassava Sciences from a “hold” rating to a “buy” rating and set a $1.25 price objective for the company in a research report on Wednesday, October 2nd. Finally, Maxim Group reaffirmed a “buy” rating and set a $3.00 price objective on shares of Cassava Sciences in a research report on Wednesday, September 18th.

NASDAQ:SAVA opened at $1.26 on Thursday. Cassava Sciences has a 1-year low of $0.76 and a 1-year high of $1.49. The firm has a fifty day moving average price of $1.23.

Cassava Sciences (NASDAQ:SAVA) last released its earnings results on Monday, August 12th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.04. On average, research analysts anticipate that Cassava Sciences will post -0.45 EPS for the current fiscal year.

An institutional investor recently raised its position in Cassava Sciences stock. Envestnet Asset Management Inc. boosted its stake in shares of Cassava Sciences Inc (NASDAQ:SAVA) by 23.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,892 shares of the company’s stock after purchasing an additional 12,104 shares during the quarter. Envestnet Asset Management Inc. owned about 0.37% of Cassava Sciences worth $76,000 at the end of the most recent reporting period. 19.49% of the stock is owned by institutional investors and hedge funds.

Cassava Sciences Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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