Cassava Sciences (NASDAQ:SAVA) Issues Earnings Results, Beats Estimates By $0.79 EPS

Cassava Sciences (NASDAQ:SAVA) issued its quarterly earnings data on Thursday. The company reported ($0.58) earnings per share for the quarter, topping the consensus estimate of ($1.37) by $0.79, Briefing.com reports. During the same period in the previous year, the business earned ($0.61) earnings per share.

Cassava Sciences Stock Up 6.4 %

Shares of NASDAQ SAVA opened at $26.95 on Friday. Cassava Sciences has a 52-week low of $8.79 and a 52-week high of $42.20. The business’s 50 day moving average is $27.72 and its two-hundred day moving average is $23.02. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -19.53 and a beta of -0.59.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SAVA. Rodman & Renshaw reiterated a “buy” rating and set a $107.00 price target on shares of Cassava Sciences in a report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $116.00 target price on shares of Cassava Sciences in a research note on Friday.

Cassava Sciences Company Profile

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.