Maxim Group Assigns a Buy Rating on Cassava Sciences (SAVA)
Maxim Group analyst Jason McCarthy assigned a Buy rating to Cassava Sciences (SAVA) today and set a price target of $12.00. The company’s shares closed last Monday at $4.20.
According to TipRanks.com, McCarthy is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -18.5% and a 24.0% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group, Hancock Jaffe Laboratories, and Actinium Pharmaceuticals.
Currently, the analyst consensus on Cassava Sciences is a Moderate Buy with an average price target of $9.00, implying an 114.3% upside from current levels. In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $6.00 price target.
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The company has a one-year high of $10.95 and a one-year low of $1.00. Currently, Cassava Sciences has an average volume of 3.64M.
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.
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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.