Cassava Sciences (NASDAQ:SAVA) Given Buy Rating at HC Wainwright

Cassava Sciences (NASDAQ:SAVA)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They presently have a $116.00 target price on the stock. HC Wainwright’s price target would indicate a potential upside of 357.05% from the stock’s current price.

Separately, Rodman & Renshaw reissued a “buy” rating and issued a $107.00 price objective on shares of Cassava Sciences in a research note on Thursday, August 8th.

Cassava Sciences Price Performance

Cassava Sciences stock traded up $0.04 during mid-day trading on Friday, reaching $25.38. The stock had a trading volume of 692,919 shares, compared to its average volume of 1,703,738. Cassava Sciences has a one year low of $8.79 and a one year high of $42.20. The company has a 50-day moving average price of $27.75 and a two-hundred day moving average price of $22.96. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -18.00 and a beta of -0.59.

Cassava Sciences (NASDAQ:SAVA) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.58) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.79. During the same quarter in the prior year, the company posted ($0.61) EPS. On average, equities research analysts anticipate that Cassava Sciences will post -5.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cassava Sciences

Several hedge funds have recently modified their holdings of SAVA. BNP Paribas Financial Markets lifted its stake in Cassava Sciences by 9.4% in the 1st quarter. BNP Paribas Financial Markets now owns 20,885 shares of the company’s stock worth $424,000 after purchasing an additional 1,786 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Cassava Sciences by 3.6% in the first quarter. Janney Montgomery Scott LLC now owns 14,690 shares of the company’s stock worth $298,000 after buying an additional 506 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Cassava Sciences by 5.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 12,149 shares of the company’s stock worth $247,000 after buying an additional 650 shares in the last quarter. Vanguard Group Inc. grew its holdings in Cassava Sciences by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 2,356,480 shares of the company’s stock valued at $47,813,000 after buying an additional 31,854 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its position in Cassava Sciences by 146.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 9,408 shares of the company’s stock valued at $191,000 after purchasing an additional 5,594 shares during the period. Hedge funds and other institutional investors own 38.05% of the company’s stock.

About Cassava Sciences

Cassava Sciences, Inc, a clinical stage biotechnology company, develops drugs for neurodegenerative diseases. Its lead therapeutic product candidate is simufilam, a small molecule drug, which is completed Phase 2 clinical trial; and investigational diagnostic product candidate is SavaDx, a blood-based biomarker/diagnostic to detect Alzheimer's disease.