Cassava Sciences (NASDAQ:SAVA) Releases Quarterly Earnings Results, Beats Estimates By $0.79 EPS

Cassava Sciences (NASDAQ:SAVA) issued its quarterly earnings results on Thursday. The company reported ($0.58) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.79, Briefing.com reports. During the same quarter in the previous year, the firm earned ($0.61) EPS.

Cassava Sciences Stock Performance

Shares of SAVA traded up $0.04 on Friday, hitting $25.38. 692,919 shares of the stock traded hands, compared to its average volume of 1,703,738. The company has a market capitalization of $1.22 billion, a PE ratio of -18.11 and a beta of -0.59. Cassava Sciences has a one year low of $8.79 and a one year high of $42.20. The business has a 50 day simple moving average of $27.75 and a 200 day simple moving average of $22.96.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SAVA shares. Rodman & Renshaw reissued a “buy” rating and issued a $107.00 price target on shares of Cassava Sciences in a research report on Thursday, August 8th. HC Wainwright reissued a “buy” rating and issued a $116.00 target price on shares of Cassava Sciences in a research note on Friday.

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.