Other equities analysts have also issued research reports about the stock. HC Wainwright set a $3.00 price target on shares of Cassava Sciences and gave the company a buy rating in a report on Friday, September 13th. Zacks Investment Research lowered shares of Cassava Sciences from a buy rating to a hold rating in a report on Thursday. Finally, Maxim Group reissued a buy rating and issued a $3.00 price target on shares of Cassava Sciences in a report on Wednesday, September 18th.
SAVA traded up $0.02 during trading on Friday, reaching $1.25. 64,795 shares of the company’s stock were exchanged, compared to its average volume of 80,256. The firm has a fifty day moving average of $1.24. Cassava Sciences has a fifty-two week low of $0.76 and a fifty-two week high of $1.49.
Cassava Sciences (NASDAQ:SAVA) last released its earnings results on Monday, August 12th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. Equities analysts forecast that Cassava Sciences will post -0.45 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Cassava Sciences stock. Envestnet Asset Management Inc. increased its stake in Cassava Sciences Inc (NASDAQ:SAVA) by 23.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 62,892 shares of the company’s stock after purchasing 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. Hedge funds and other institutional investors own 19.49% of the company’s stock.
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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