Zacks: Cassava Sciences Inc (NASDAQ:SAVA) Given $12.00 Consensus Target Price by Brokerages

Shares of Cassava Sciences Inc (NASDAQ:SAVA) have been assigned a consensus broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company. Cassava Sciences’ rating score has declined by 100% in the last three months as a result of various analysts’ upgrades and downgrades.

Analysts have set a 1 year consensus target price of $12.00 for the company and are forecasting that the company will post ($0.06) earnings per share for the current quarter, according to Zacks. Zacks has also given Cassava Sciences an industry rank of 21 out of 254 based on the ratings given to related companies.

SAVA has been the topic of a number of analyst reports. Zacks Investment Research raised Cassava Sciences from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a research report on Saturday, May 9th. ValuEngine raised Cassava Sciences from a “sell” rating to a “hold” rating in a report on Thursday, April 2nd. Maxim Group lowered Cassava Sciences from a “buy” rating to a “hold” rating in a report on Friday, May 15th. Finally, HC Wainwright lowered Cassava Sciences from a “buy” rating to a “neutral” rating in a report on Monday, May 18th.

Cassava Sciences stock traded up $0.09 during mid-day trading on Friday, hitting $2.13. 2,469,402 shares of the company were exchanged, compared to its average volume of 4,703,305. Cassava Sciences has a 12-month low of $1.03 and a 12-month high of $10.95. The company has a market capitalization of $50.55 million, a P/E ratio of -9.26 and a beta of 3.28. The business’s 50 day simple moving average is $5.89 and its two-hundred day simple moving average is $5.10.

Cassava Sciences (NASDAQ:SAVA) last announced its earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share (EPS) for the quarter. Analysts forecast that Cassava Sciences will post -0.26 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of SAVA. Fred Alger Management LLC acquired a new position in shares of Cassava Sciences during the first quarter worth approximately $41,000. Creative Planning acquired a new position in shares of Cassava Sciences during the first quarter worth approximately $55,000. Acadian Asset Management LLC acquired a new position in shares of Cassava Sciences during the fourth quarter worth approximately $79,000. Jane Street Group LLC boosted its position in shares of Cassava Sciences by 23.4% during the fourth quarter. Jane Street Group LLC now owns 17,269 shares of the company’s stock worth $90,000 after buying an additional 3,279 shares during the period. Finally, Cetera Advisor Networks LLC acquired a new position in shares of Cassava Sciences during the fourth quarter worth approximately $109,000. Institutional investors and hedge funds own 20.20% 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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