Maxim Group analyst Jason McCarthy assigned a Buy rating to Cassava Sciences (SAVA – Research Report) yesterday and set a price target of $190.00. The company’s shares closed last Tuesday at $115.80, close to its 52-week high of $132.96.
According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 24.0% and a 33.7% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Reviva Pharmaceuticals Holdings, SELLAS Life Sciences Group, and Lineage Cell Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cassava Sciences with a $127.00 average price target, implying a 6.2% upside from current levels. In a report issued on July 20, H.C. Wainwright also reiterated a Buy rating on the stock with a $124.00 price target.
Cassava Sciences’ market cap is currently $4.8B and has a P/E ratio of -425.40. The company has a Price to Book ratio of 17.56.
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SAVA in relation to earlier this year.
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Cassava Sciences, Inc. engages in the development of novel drugs. It focuses on developing product candidates intended for the treatment of Alzheimer’s disease, including PTI-125 and PTI-125Dx. The company was founded by Remi Barbier and Barry M. Sherman in May 1998 and is headquartered in Austin, TX.