Cassava Sciences Inc (SAVA) Gets a Buy Rating from Maxim Group

By Ryan Adsit

In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on Cassava Sciences Inc (SAVAResearch Report), with a price target of $3. The company’s shares closed last Monday at $1.21.

McCarthy said:

“Cassava reported positive Phase 2a data for PTI-125 in Alzheimer’s disease (AD). This trial was a first-in-patient study for this compound and the positive results suggest an early signal of efficacy. A larger P2b is expected to initiate in 3Q19.”

According to TipRanks.com, McCarthy ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -21.7% and a 24.7% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Lineage Cell Therapeutics, Inc., Hancock Jaffe Laboratories Inc, and Aridis Pharmaceuticals Inc.

Currently, the analyst consensus on Cassava Sciences Inc is a Moderate Buy with an average price target of $3.

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The company has a one-year high of $2.99 and a one-year low of $0.22. Currently, Cassava Sciences Inc has an average volume of 316.3K.

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Cassava Sciences, Inc. engages in the development of novel drugs. It focuses on developing product candidates intended for the treatment of Alzheimer’s disease, including PTI-125 and PTI-125Dx. The company was founded by Remi Barbier and Barry M. Sherman in May 1998 and is headquartered in Austin, TX.