FY2024 EPS Estimate for Cassava Sciences Reduced by Analyst

Cassava Sciences, Inc. (NASDAQ:SAVA) – Research analysts at HC Wainwright decreased their FY2024 earnings estimates for shares of Cassava Sciences in a research report issued on Tuesday, November 26th. HC Wainwright analyst V. Bernardino now anticipates that the company will post earnings of ($3.97) per share for the year, down from their previous forecast 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 ($3.97) per share. HC Wainwright also issued estimates for Cassava Sciences’ Q4 2024 earnings at ($0.68) EPS and FY2025 earnings at ($0.62) EPS.

Cassava Sciences (NASDAQ:SAVA) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.37) by $0.79. During the same period in the previous year, the company earned ($0.61) earnings per share.

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

Cassava Sciences Stock Performance

SAVA stock opened at $3.84 on Thursday. The stock has a market cap of $184.74 million, a P/E ratio of -2.78 and a beta of -0.59. The firm has a 50 day simple moving average of $24.95 and a 200 day simple moving average of $22.79. Cassava Sciences has a 52 week low of $3.65 and a 52 week high of $42.20.

Institutional Investors Weigh In On Cassava Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. KBC Group NV bought a new stake in shares of Cassava Sciences in the 3rd quarter valued at approximately $57,000. Quest Partners LLC increased 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 purchasing an additional 1,080 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in shares of Cassava Sciences during the 2nd quarter worth $131,000. Arizona State Retirement System lifted its stake in shares of 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 during the last quarter. Finally, Profund Advisors LLC boosted its holdings in Cassava Sciences by 4.6% in 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 in the last quarter. 38.05% of the stock is owned by hedge funds and other institutional investors.

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.