Equities Analysts Offer Predictions for SAVA FY2024 Earnings

Cassava Sciences, Inc. (NASDAQ:SAVA) – Investment analysts at HC Wainwright cut their FY2024 EPS estimates for Cassava Sciences in a research report issued on Tuesday, November 26th. HC Wainwright analyst V. Bernardino now forecasts that the company will post earnings of ($3.97) per share for the year, down from their prior estimate of ($3.63). HC Wainwright has a “Neutral” rating and a $116.00 price objective on the stock. The consensus estimate for Cassava Sciences’ current full-year earnings is ($3.63) per share. HC Wainwright also issued estimates for Cassava Sciences’ Q4 2024 earnings at ($0.68) EPS and FY2025 earnings at ($0.62) EPS.

Separately, Rodman & Renshaw reissued a “buy” rating and set a $107.00 price target on shares of Cassava Sciences in a report on Thursday, August 8th.

Cassava Sciences Trading Up 3.9 %

NASDAQ:SAVA opened at $3.98 on Thursday. The firm has a market cap of $191.48 million, a P/E ratio of -2.88 and a beta of -0.59. Cassava Sciences has a 12-month low of $3.65 and a 12-month high of $42.20. The stock’s 50 day simple moving average is $25.47 and its 200-day simple moving average is $22.91.

Cassava Sciences (NASDAQ:SAVA) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.37) by $0.79. During the same period last year, the firm posted ($0.61) earnings per share.

Institutional Investors Weigh In On Cassava Sciences

Several institutional investors have recently made changes to their positions in the stock. KBC Group NV purchased a new position in shares of Cassava Sciences in the 3rd quarter valued at about $57,000. Quest Partners LLC boosted its stake in shares of Cassava Sciences by 117.8% during the 3rd quarter. Quest Partners LLC now owns 1,997 shares of the company’s stock worth $59,000 after acquiring an additional 1,080 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of Cassava Sciences in the 2nd quarter worth approximately $131,000. Arizona State Retirement System increased its stake in Cassava Sciences by 4.2% in the 2nd quarter. Arizona State Retirement System now owns 11,495 shares of the company’s stock valued at $142,000 after purchasing an additional 468 shares in the last quarter. Finally, Profund Advisors LLC raised its holdings in Cassava Sciences by 4.6% during the second quarter. Profund Advisors LLC now owns 13,440 shares of the company’s stock worth $166,000 after purchasing an additional 591 shares during the last quarter. 38.05% of the stock is currently owned by hedge funds and other institutional investors.

About Cassava Sciences

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.