Zacks: Brokerages Anticipate Cassava Sciences Inc (NASDAQ:SAVA) to Post -$0.14 EPS

Equities research analysts predict that Cassava Sciences Inc (NASDAQ:SAVA) will announce ($0.14) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Cassava Sciences’ earnings. Cassava Sciences reported earnings per share of ($0.04) during the same quarter last year, which indicates a negative year over year growth rate of 250%. The firm is scheduled to report its next quarterly earnings results on Monday, March 23rd.

On average, analysts expect that Cassava Sciences will report full-year earnings of ($0.32) per share for the current financial year. For the next financial year, analysts forecast that the business will post earnings of $0.95 per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that that provide coverage for Cassava Sciences.

Cassava Sciences (NASDAQ:SAVA) last issued its quarterly 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.

A number of brokerages have recently commented on SAVA. Maxim Group reissued a “buy” rating and set a $3.00 price target on shares of Cassava Sciences in a report on Wednesday, September 18th. Zacks Investment Research raised Cassava Sciences from a “hold” rating to a “strong-buy” rating and set a $1.50 target price on the stock in a report on Thursday, November 14th. ValuEngine raised Cassava Sciences from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price (up from $3.00) on shares of Cassava Sciences in a report on Friday, December 6th.

A hedge fund recently raised its stake in Cassava Sciences stock. Envestnet Asset Management Inc. increased its position in shares of Cassava Sciences Inc (NASDAQ:SAVA) by 23.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,892 shares of the company’s stock after acquiring an additional 12,104 shares during the period. Envestnet Asset Management Inc. owned approximately 0.37% of Cassava Sciences worth $76,000 at the end of the most recent quarter. 10.60% of the stock is owned by institutional investors.

Shares of SAVA remained flat at $$1.88 during trading hours on Friday. The stock had a trading volume of 1,298,285 shares, compared to its average volume of 2,304,883. The company has a market cap of $32.37 million, a price-to-earnings ratio of -3.08 and a beta of 1.85. Cassava Sciences has a 52 week low of $0.76 and a 52 week high of $2.55. The stock has a fifty day simple moving average of $1.42 and a two-hundred day simple moving average of $1.32.

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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