Cassava Sciences (NASDAQ:SAVA) Rating Increased to Buy at Maxim Group

Maxim Group upgraded shares of Cassava Sciences (NASDAQ:SAVA) from a hold rating to a buy rating in a research note issued to investors on Monday, The Fly reports. They currently have $14.00 target price on the stock.

SAVA has been the topic of several other research reports. Zacks Investment Research upgraded shares of Cassava Sciences from a sell rating to a hold rating in a research report on Tuesday, July 21st. HC Wainwright lowered shares of Cassava Sciences from a buy rating to a neutral rating in a research report on Monday, May 18th.

Shares of NASDAQ:SAVA opened at $7.04 on Monday. The stock has a market cap of $175.43 million, a price-to-earnings ratio of -32.00 and a beta of 2.85. Cassava Sciences has a 12 month low of $1.05 and a 12 month high of $10.95. The stock’s 50 day moving average price is $3.33 and its 200 day moving average price is $4.05.

Cassava Sciences (NASDAQ:SAVA) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. On average, equities analysts predict that Cassava Sciences will post -0.26 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its stake in shares of Cassava Sciences by 169.5% in the 2nd quarter. Bank of America Corp DE now owns 10,080 shares of the company’s stock valued at $31,000 after purchasing an additional 6,340 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Cassava Sciences by 38.9% in the 1st quarter. Jane Street Group LLC now owns 23,984 shares of the company’s stock valued at $99,000 after purchasing an additional 6,715 shares during the last quarter. Creative Planning lifted its stake in shares of Cassava Sciences by 62.8% in the 2nd quarter. Creative Planning now owns 21,648 shares of the company’s stock valued at $67,000 after purchasing an additional 8,350 shares during the last quarter. Fred Alger Management LLC acquired a new stake in shares of Cassava Sciences in the 1st quarter valued at $41,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Cassava Sciences in the 2nd quarter valued at $41,000. Hedge funds and other institutional investors own 24.07% 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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