Market Analysts see Cassava Sciences Inc. [SAVA] gaining to $66. Time to buy?

Cassava Sciences Inc. [NASDAQ: SAVA] gained 19.86% or 10.36 points to close at $62.52 with a heavy trading volume of 9272885 shares. The company report on March 9, 2021 that Cassava Sciences Announces Pharmaceutical Supply Agreement for Simufilam.

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Cassava Sciences, Inc. (Nasdaq: SAVA), a clinical-stage biotechnology company developing product candidates for Alzheimer’s disease, announced it has entered into a drug supply agreement with Evonik Industries AG for simufilam. Under the agreement, Evonik will supply Cassava Sciences with large-scale, clinical-grade quantities of simufilam, a drug candidate for the treatment of Alzheimer’s disease.

“I am pleased with our success to date in being an effective collaborator with Evonik, a company with a long, successful and reliable track record of supporting pharmaceutical supply chains,” said Remi Barbier, President and CEO of Cassava Sciences.

It opened the trading session at $52.327, the shares rose to $63.65 and dropped to $51.04, the range by which the price of stock traded the whole day. The daily chart for SAVA points out that the company has recorded 790.60% gains over the past six months. However, it is still -3735.58% lower than its most recent low trading price.

If we look at the average trading volume of 7.18M shares, SAVA reached to a volume of 9272885 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Cassava Sciences Inc. [SAVA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SAVA shares is $67.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SAVA stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

H.C. Wainwright have made an estimate for Cassava Sciences Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 16, 2021. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Overweight. The new note on the price target was released on October 23, 2020, representing the official price target for Cassava Sciences Inc. stock. Previously, the target price had yet another raise to $20, while H.C. Wainwright analysts kept a Buy rating on SAVA stock.

The Average True Range (ATR) for Cassava Sciences Inc. is set at 7.25 The Price to Book ratio for the last quarter was 65.13, with the Price to Cash per share for the same quarter was set at 0.80.

Trading performance analysis for SAVA stock

Cassava Sciences Inc. [SAVA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 21.16. With this latest performance, SAVA shares gained by 20.63% in over the last four-week period, additionally plugging by 790.60% over the last 6 months – not to mention a rise of 1608.20% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SAVA stock in for the last two-week period is set at 65.27, with the RSI for the last a single of trading hit 70.79, and the three-weeks RSI is set at 63.30 for Cassava Sciences Inc. [SAVA]. The present Moving Average for the last 50 days of trading for this stock 37.83, while it was recorded at 55.02 for the last single week of trading, and 14.08 for the last 200 days.

Cassava Sciences Inc. [SAVA]: A deeper dive into fundamental analysis

Return on Total Capital for SAVA is now -46.34, given the latest momentum, and Return on Invested Capital for the company is -22.20. Return on Equity for this stock declined to -22.20, with Return on Assets sitting at -21.23. When it comes to the capital structure of this company, Cassava Sciences Inc. [SAVA] has a Total Debt to Total Equity ratio set at 0.41. Additionally, SAVA Total Debt to Total Capital is recorded at 0.41, with Total Debt to Total Assets ending up at 0.38.

Reflecting on the efficiency of the workforce at the company, Cassava Sciences Inc. [SAVA] managed to generate an average of -$514,556 per employee.Cassava Sciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 21.50 and a Current Ratio set at 21.50.

Cassava Sciences Inc. [SAVA]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Cassava Sciences Inc. posted -0.04/share EPS, while the average EPS was predicted by analysts to be reported at -0.13/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 69.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SAVA.

An analysis of insider ownership at Cassava Sciences Inc. [SAVA]

There are presently around $629 million, or 35.10% of SAVA stock, in the hands of institutional investors. The top three institutional holders of SAVA stocks are: BLACKROCK INC. with ownership of 1,970,769, which is approximately 36.357% of the company’s market cap and around 6.80% of the total institutional ownership; VANGUARD GROUP INC, holding 1,583,863 shares of the stock with an approximate value of $99.02 million in SAVA stocks shares; and CAAS CAPITAL MANAGEMENT LP, currently with $42.97 million in SAVA stock with ownership of nearly New of the company’s market capitalization.

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Positions in Cassava Sciences Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 54 institutional holders increased their position in Cassava Sciences Inc. [NASDAQ:SAVA] by around 4,508,525 shares. Additionally, 22 investors decreased positions by around 1,267,880 shares, while 9 investors held positions by with 4,279,046 shares. The mentioned changes placed institutional holdings at 10,055,451 shares, according to the latest SEC report filing. SAVA stock had 19 new institutional investments in for a total of 1,669,846 shares, while 9 institutional investors sold positions of 353,432 shares during the same period.

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