Analysts’ Top Healthcare Picks: Cassava Sciences Inc (SAVA), Logicbio Therapeutics Inc (LOGC)

By Austin Angelo

There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Cassava Sciences Inc (SAVAResearch Report) and Logicbio Therapeutics Inc (LOGCResearch Report) with bullish sentiments.

Cassava Sciences Inc (SAVA)

In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on Cassava Sciences Inc, with a price target of $3. The company’s shares closed last Monday at $1.24.

McCarthy wrote:

“Cassava reported 2Q19 (June) with a net loss of ($1.1M) and ended the period with $18.5M in cash on the balance sheet.”

According to TipRanks.com, McCarthy is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -23.3% and a 22.5% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Lineage Cell Therapeutics, Inc., Hancock Jaffe Laboratories Inc, and Aridis Pharmaceuticals Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cassava Sciences Inc with a $3 average price target, implying a 145.9% upside from current levels. In a report issued on August 1, H.C. Wainwright also initiated coverage with a Buy rating on the stock with a $3 price target.

See today’s analyst top recommended stocks >>

Logicbio Therapeutics Inc (LOGC)

In a report released today, Raju Prasad from William Blair maintained a Buy rating on Logicbio Therapeutics Inc. The company’s shares closed last Monday at $8.80, close to its 52-week low of $6.70.

Prasad wrote:

“We continue to believe that the company’s approach to gene editing is underappreciated given its consideration of theoretical risks associated with permanently altering DNA and its clinically de-risked AAV delivery vector . We model LB-001, if approved, as having the potential to be a $650 million peak sales product.”

According to TipRanks.com, Prasad is a 4-star analyst with an average return of 13.6% and a 49.1% success rate. Prasad covers the Healthcare sector, focusing on stocks such as Rocket Pharmaceuticals Inc, Global Blood Therapeutics, and Allogene Therapeutics Inc.

Logicbio Therapeutics Inc has an analyst consensus of Strong Buy, with a price target consensus of $26, a 164.0% upside from current levels. In a report issued on July 29, Chardan Capital also reiterated a Buy rating on the stock.

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