Zacks: Cassava Sciences Inc (NASDAQ:SAVA) Given Consensus Rating of “Strong Buy” by Analysts

Cassava Sciences Inc (NASDAQ:SAVA) has earned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Analysts have set a 12 month consensus price target of $3.00 for the company and are forecasting that the company will post ($0.12) EPS for the current quarter, according to Zacks. Zacks has also assigned Cassava Sciences an industry rank of 93 out of 256 based on the ratings given to related companies.

A number of equities research analysts have recently commented on SAVA shares. Maxim Group started coverage on Cassava Sciences in a research report on Tuesday, June 25th. They set a “buy” rating and a $3.00 target price on the stock. HC Wainwright started coverage on Cassava Sciences in a research report on Thursday, August 1st. They set a “buy” rating and a $3.00 target price on the stock. Finally, ValuEngine upgraded Cassava Sciences from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.

A hedge fund recently raised its stake in Cassava Sciences stock. Envestnet Asset Management Inc. raised its position in Cassava Sciences Inc (NASDAQ:SAVA) by 23.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 62,892 shares of the company’s stock after buying an additional 12,104 shares during the period. Envestnet Asset Management Inc. owned about 0.37% of Cassava Sciences worth $76,000 at the end of the most recent reporting period. 19.42% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:SAVA traded down $0.09 during trading on Monday, reaching $1.23. 545,200 shares of the company’s stock traded hands, compared to its average volume of 220,606. Cassava Sciences has a fifty-two week low of $0.76 and a fifty-two week high of $2.99. The stock has a market cap of $22.73 million, a price-to-earnings ratio of -2.02 and a beta of 1.63. The stock has a 50-day simple moving average of $1.34.

About Cassava Sciences

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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