Cassava Sciences (NASDAQ:SAVA) Releases Quarterly Earnings Results, Beats Estimates By $0.79 EPS

Cassava Sciences (NASDAQ:SAVA) announced its quarterly earnings data on Thursday. The company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.37) by $0.79, Briefing.com reports. During the same period in the previous year, the firm earned ($0.61) earnings per share.

Cassava Sciences Stock Performance

Cassava Sciences stock traded up $1.61 during midday trading on Friday, hitting $26.95. 2,036,051 shares of the company were exchanged, compared to its average volume of 1,709,910. The firm has a market capitalization of $1.29 billion, a PE ratio of -19.11 and a beta of -0.59. Cassava Sciences has a fifty-two week low of $8.79 and a fifty-two week high of $42.20. The business has a fifty day simple moving average of $27.72 and a two-hundred day simple moving average of $23.01.

Analyst Ratings Changes

Several brokerages have recently issued reports on SAVA. HC Wainwright restated a “buy” rating and issued a $116.00 price objective on shares of Cassava Sciences in a research note on Friday. Rodman & Renshaw restated a “buy” rating and issued a $107.00 price objective on shares of Cassava Sciences in a research note on Thursday, August 8th.

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.