Wall Street brokerages forecast that Cassava Sciences Inc (NASDAQ:SAVA) will report ($0.14) earnings per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Cassava Sciences’ earnings. Cassava Sciences reported earnings of ($0.04) per share during the same quarter last year, which would indicate a negative year over year growth rate of 250%. The business is expected to announce its next quarterly earnings report on Monday, March 23rd.
On average, analysts expect that Cassava Sciences will report full-year earnings of ($0.32) per share for the current year. For the next financial year, analysts expect that the company will report earnings of $0.95 per share. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Cassava Sciences.
Cassava Sciences (NASDAQ:SAVA) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Cassava Sciences from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a research note on Friday. HC Wainwright reissued a “buy” rating and issued a $6.00 price target (up from $3.00) on shares of Cassava Sciences in a research note on Friday, December 6th. ValuEngine raised shares of Cassava Sciences from a “strong sell” rating to a “sell” rating in a research note on Saturday, January 4th. Finally, Maxim Group boosted their price target on shares of Cassava Sciences from $3.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, January 10th.
Cassava Sciences stock opened at $7.73 on Tuesday. The company’s 50 day simple moving average is $5.31 and its 200-day simple moving average is $2.29. The company has a market capitalization of $139.47 million, a price-to-earnings ratio of -35.14 and a beta of 2.59. Cassava Sciences has a 1 year low of $0.86 and a 1 year high of $10.95.
In other Cassava Sciences news, Director Sanford Robertson acquired 76,212 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average price of $1.86 per share, for a total transaction of $141,754.32. Following the completion of the acquisition, the director now owns 238,835 shares of the company’s stock, valued at approximately $444,233.10. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Remi Barbier acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was acquired at an average price of $4.03 per share, with a total value of $40,300.00. Insiders purchased 194,111 shares of company stock valued at $749,307 in the last 90 days. Company insiders own 14.90% of the company’s stock.
An institutional investor recently raised its position in Cassava Sciences stock. Renaissance Technologies LLC lifted its holdings in Cassava Sciences Inc (NASDAQ:SAVA) by 16.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 682,792 shares of the company’s stock after purchasing an additional 98,900 shares during the period. Renaissance Technologies LLC owned approximately 3.97% of Cassava Sciences worth $826,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 10.61% 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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