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

Cassava Sciences (NASDAQ:SAVA)‘s stock had its “buy” rating reissued by HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $116.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 330.43% from the stock’s current price.

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

Cassava Sciences Trading Up 6.4 %

NASDAQ SAVA opened at $26.95 on Friday. The firm has a market capitalization of $1.29 billion, a P/E ratio of -19.53 and a beta of -0.59. The firm’s fifty day moving average price is $27.72 and its two-hundred day moving average price is $23.02. Cassava Sciences has a 1 year low of $8.79 and a 1 year high of $42.20.

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

Hedge Funds Weigh In On Cassava Sciences

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