Cassava Sciences’ (SAVA) Buy Rating Reaffirmed at HC Wainwright
HC Wainwright reissued their buy rating on shares of Cassava Sciences (NASDAQ:SAVA) in a research note published on Friday morning, The Fly reports. The firm currently has a $6.00 target price on the stock, up from their previous target price of $3.00.
SAVA has been the topic of several other research reports. Maxim Group restated a buy rating and set a $3.00 price objective on shares of Cassava Sciences in a report on Wednesday, September 18th. ValuEngine upgraded shares of Cassava Sciences from a strong sell rating to a sell rating in a research note on Tuesday, November 12th. Finally, Zacks Investment Research upgraded shares of Cassava Sciences from a hold rating to a strong-buy rating and set a $1.50 target price for the company in a research note on Thursday, November 14th.
Shares of Cassava Sciences stock traded down $0.01 during trading on Friday, reaching $1.79. The company’s stock had a trading volume of 34,594,188 shares, compared to its average volume of 372,773. The company has a market cap of $30.82 million, a price-to-earnings ratio of -2.93 and a beta of 1.85. Cassava Sciences has a 1-year low of $0.76 and a 1-year high of $2.55. The company has a 50-day simple moving average of $1.35 and a two-hundred day simple moving average of $1.30.
An institutional investor recently raised its position in Cassava Sciences stock. Envestnet Asset Management Inc. increased its position in Cassava Sciences Inc (NASDAQ:SAVA) by 23.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 10.72% of the company’s stock.
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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