Cassava Sciences (NASDAQ:SAVA) Issues Quarterly Earnings Results

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

Cassava Sciences Price Performance

Shares of NASDAQ:SAVA traded up $1.65 during mid-day trading on Friday, hitting $26.99. The company had a trading volume of 968,823 shares, compared to its average volume of 1,705,009. The firm has a fifty day moving average price of $27.75 and a 200 day moving average price of $22.96. The company has a market capitalization of $1.29 billion, a PE ratio of -18.00 and a beta of -0.59. Cassava Sciences has a one year low of $8.79 and a one year high of $42.20.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SAVA shares. HC Wainwright restated a “buy” rating and set a $116.00 price target on shares of Cassava Sciences in a report on Friday. Rodman & Renshaw restated a “buy” rating and set a $107.00 price target on shares of Cassava Sciences in a report on Thursday, August 8th.

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.