Cassava Sciences Inc (NASDAQ:SAVA) Expected to Post Earnings of -$0.16 Per Share

Equities research analysts expect Cassava Sciences Inc (NASDAQ:SAVA) to report earnings per share of ($0.16) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have made estimates for Cassava Sciences’ earnings. Cassava Sciences reported earnings of ($0.11) per share during the same quarter last year, which indicates a negative year over year growth rate of 45.5%. The business is scheduled to issue its next earnings report on Monday, November 4th.

On average, analysts expect that Cassava Sciences will report full-year earnings of ($0.45) per share for the current financial year. For the next year, analysts anticipate that the business will report earnings of $0.88 per share. Zacks’ EPS calculations are an average based on a survey of analysts that cover Cassava Sciences.

Cassava Sciences (NASDAQ:SAVA) last announced its earnings results on Monday, August 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04.

A number of equities research analysts have recently commented on SAVA shares. HC Wainwright restated a “buy” rating and set a $3.00 target price on shares of Cassava Sciences in a research report on Friday, August 16th. Maxim Group reissued a “buy” rating and issued a $3.00 target price on shares of Cassava Sciences in a research report on Tuesday, August 13th. Finally, ValuEngine raised Cassava Sciences from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.

An institutional investor recently raised its position in Cassava Sciences stock. Envestnet Asset Management Inc. raised its stake in Cassava Sciences Inc (NASDAQ:SAVA) by 23.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,892 shares of the company’s stock after acquiring an additional 12,104 shares during the period. Envestnet Asset Management Inc. owned 0.37% of Cassava Sciences worth $76,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 19.74% of the company’s stock.

Shares of NASDAQ SAVA traded down $0.01 during trading on Thursday, reaching $1.19. 68,261 shares of the company traded hands, compared to its average volume of 258,018. The company has a fifty day moving average price of $1.33. The firm has a market cap of $21.42 million, a PE ratio of -1.95 and a beta of 1.63. Cassava Sciences has a 12-month low of $0.76 and a 12-month high of $2.99.

Cassava Sciences Company Profile

Cassava Sciences, Inc, a clinical-stage drug development company, develops drugs for nervous system disorders. The company's lead therapeutic product candidate PTI-125, a small molecule drug that is in Phase II clinical trial for the treatment of Alzheimer's disease. It is also developing PTI-125Dx, a blood-based biomarker/diagnostic to detect Alzheimer's disease.

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