Cassava Sciences, Inc. (NASDAQ:SAVA) Receives Average Recommendation of “Buy” from Brokerages

Cassava Sciences, Inc. (NASDAQ:SAVA) has been given a consensus recommendation of “Buy” by the five ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $146.00.

A number of equities research analysts recently commented on SAVA shares. B. Riley upped their price objective on Cassava Sciences from $111.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, August 3rd. Cantor Fitzgerald downgraded Cassava Sciences from an “overweight” rating to a “neutral” rating and set a $100.00 price target for the company. in a report on Thursday, July 15th. Jonestrading restated a “buy” rating and issued a $215.00 price target on shares of Cassava Sciences in a report on Friday, September 3rd. Zacks Investment Research upgraded Cassava Sciences from a “sell” rating to a “hold” rating in a report on Wednesday, August 11th. Finally, HC Wainwright increased their price target on Cassava Sciences from $97.00 to $124.00 and gave the stock a “buy” rating in a report on Tuesday, July 20th.

Shares of NASDAQ:SAVA opened at $60.12 on Friday. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of -162.48 and a beta of 0.97. The business’s fifty day moving average price is $82.39 and its two-hundred day moving average price is $66.40. Cassava Sciences has a fifty-two week low of $6.70 and a fifty-two week high of $146.16.

Cassava Sciences (NASDAQ:SAVA) last posted its quarterly earnings data on Tuesday, August 3rd. The company reported ($0.13) EPS for the quarter, hitting analysts’ consensus estimates of ($0.13). Equities research analysts forecast that Cassava Sciences will post -0.64 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Cassava Sciences by 22.0% in the 1st quarter. BlackRock Inc. now owns 2,404,922 shares of the company’s stock valued at $108,102,000 after purchasing an additional 434,153 shares during the period. Bleichroeder LP lifted its stake in Cassava Sciences by 75.9% in the first quarter. Bleichroeder LP now owns 500,000 shares of the company’s stock valued at $22,475,000 after purchasing an additional 215,686 shares during the last quarter. State Street Corp lifted its stake in Cassava Sciences by 26.7% in the second quarter. State Street Corp now owns 869,878 shares of the company’s stock valued at $74,322,000 after purchasing an additional 183,568 shares during the last quarter. Morgan Stanley lifted its stake in Cassava Sciences by 337.0% in the first quarter. Morgan Stanley now owns 223,362 shares of the company’s stock valued at $10,040,000 after purchasing an additional 172,250 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Cassava Sciences by 793.1% during the second quarter. Invesco Ltd. now owns 173,064 shares of the company’s stock worth $14,787,000 after acquiring an additional 153,686 shares in the last quarter. Institutional investors own 27.17% of the company’s stock.

Cassava Sciences Company Profile

Cassava Sciences, Inc engages in the development of novel drugs and diagnostics. It focuses on developing product candidates intended for the treatment of Alzheimer’s disease, including PTI-125 and PTI-125Dx. The company was founded by Remi Barbier and Barry M. Sherman in May 1998 and is headquartered in Austin, TX.

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