In a report released today, Mayank Mamtani from B.Riley Financial reiterated a Buy rating on Cassava Sciences (SAVA), with a price target of $78.00. The company’s shares closed last Wednesday at $42.50.
According to TipRanks.com, Mamtani is a 5-star analyst with an average return of 24.3% and a 51.5% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Spectrum Pharmaceuticals, and Madrigal Pharmaceuticals.
Currently, the analyst consensus on Cassava Sciences is a Strong Buy with an average price target of $87.40, which is a 109.1% upside from current levels. In a report issued on April 21, JonesTrading also reiterated a Buy rating on the stock with a $110.00 price target.
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The company has a one-year high of $117.54 and a one-year low of $1.63. Currently, Cassava Sciences has an average volume of 3.55M.
Based on the recent corporate insider activity of 7 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. Most recently, in March 2021, Sanford Robertson, a Director at SAVA bought 7,472 shares for a total of $305,521.
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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.
