Cassava Sciences (NASDAQ:SAVA) Raised to Hold at ValuEngine

Cassava Sciences (NASDAQ:SAVA) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Saturday, ValuEngine reports.

A number of other analysts also recently commented on SAVA. Maxim Group reiterated a “buy” rating and issued a $3.00 price objective on shares of Cassava Sciences in a research report on Wednesday, September 18th. Zacks Investment Research downgraded Cassava Sciences from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, HC Wainwright set a $3.00 price objective on Cassava Sciences and gave the stock a “buy” rating in a research report on Friday, September 13th.

Shares of SAVA stock opened at $1.25 on Friday. The stock has a 50 day moving average price of $1.24. Cassava Sciences has a 12 month low of $0.76 and a 12 month high of $1.49. The company has a market cap of $21.18 million, a P/E ratio of -2.05 and a beta of 1.69.

Cassava Sciences (NASDAQ:SAVA) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.06) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.04. Sell-side analysts anticipate that Cassava Sciences will post -0.45 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Cassava Sciences stock. Envestnet Asset Management Inc. increased its stake in shares of Cassava Sciences Inc (NASDAQ:SAVA) by 23.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,892 shares of the company’s stock after buying an additional 12,104 shares during the quarter. Envestnet Asset Management Inc. owned 0.37% of Cassava Sciences worth $76,000 at the end of the most recent reporting period. Institutional investors own 19.49% 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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