Cassava Sciences (NASDAQ:SAVA) receives “Buy” rating from Rodman & Renshaw

Rodman & Renshaw restated their buy rating on the stock Cassava Sciences (NASDAQ:SAVA – Free Report) in a research note issued to investors on Thursday, Benzinga reports. Rodman & Renshaw presently has a $107.00 target price on the stock.

Separately, HC Wainwright reiterated a neutral rating on shares of Cassava Sciences in a research report on Friday, July 19th.

Read the latest stock report on cassava science

Cassava Sciences stocks down 16.0%

Shares of Cassava Sciences stock opened at $21.85 on Thursday. The company’s 50-day moving average price is $17.45, and its two-hundred-day moving average price is $20.48. The stock has a market cap of $1.05 billion, a P/E ratio of -10.07 and a beta of -0.57. Cassava Sciences has a twelve month low of $8.79 and a twelve month high of $42.20.

Cassava Sciences (NASDAQ:SAVA – Get Free Report ) last announced its earnings results on Friday, May 10th. The company reported ($1.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.90). equities analysts anticipate that Cassava Sciences will post -1.86 earnings per share for the current fiscal year.

Institutional inputs and outputs

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Cassava Sciences by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,268,566 shares of the company’s stock worth $37,749,000 after acquiring an additional 18,907 shares during the period. Raymond James & Associates boosted its position in shares of Cassava Sciences by 0.8% in the fourth quarter. Raymond James & Associates now owns 74,097 shares of the company’s stock worth $1,668,000 after purchasing an additional 565 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Cassava Sciences by 8.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,893 shares of the company’s stock valued at $403,000 after buying an additional 1,418 shares during the last quarter. Essex LLC lifted its position in Cassava Sciences by 186.1% in the fourth quarter. Essex LLC now owns 34,774 shares of the company’s stock worth $783,000 after acquiring an additional 22,620 shares during the period. Finally, Byrne Asset Management LLC raised its stake in Cassava Sciences by 32.9% in the fourth quarter. Byrne Asset Management LLC now owns 3,350 shares of the company’s stock worth $75,000 after buying an additional 830 shares during the last quarter. 38.05% of shares are owned by institutional investors.

Cassava Sciences Company Profile

(Get a free report)

Cassava Sciences, Inc, a clinical-stage biotechnology company, develops drugs for neurodegenerative diseases. Its lead therapeutic product candidate is simufilam, a small molecule drug that is in Phase 2 clinical trial completion; and the investigational diagnostic product candidate is SavaDx, a blood-based biomarker/diagnostic to detect Alzheimer’s disease.

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