Assessing Whether Cassava Sciences Inc (NASDAQ: SAVA) Is Over- Or Undervalued

Cassava Sciences Inc (SAVA) concluded trading on Thursday at a closing price of $20.29, with 0.47 million shares of worth about $9.5 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 19.71% during that period and on March 28, 2024 the price saw a loss of about -0.64%. Currently the company’s common shares owned by public are about 42.24M shares, out of which, 39.16M shares are available for trading.

Stock saw a price change of -4.20% in past 5 days and over the past one month there was a price change of -11.51%. Year-to-date (YTD), SAVA shares are showing a performance of -9.86% which decreased to -13.51% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $12.32 but also hit the highest price of $32.10 during that period. The average intraday trading volume for Cassava Sciences Inc shares is 688.26K. The stock is currently trading -2.38% below its 20-day simple moving average (SMA20), while that difference is down -11.08% for SMA50 and it goes to -5.84% lower than SMA200.

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Cassava Sciences Inc (NASDAQ: SAVA) currently have 42.24M outstanding shares and institutions hold larger chunk of about 32.69% of that.

The stock has a current market capitalization of $877.14M and its 3Y-monthly beta is at -0.44. It has posted earnings per share of -$2.32 in the same period. It has Quick Ratio of 9.13 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SAVA, volatility over the week remained 4.68% while standing at 5.59% over the month.

Analysts are in expectations that Cassava Sciences Inc (SAVA) stock would likely to be making an EPS of -$0.46 in the current quarter, while forecast for next quarter EPS is -$0.45 and it is -$0.47 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.51 which is -$0.41 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.58 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 7.54% while it is estimated to increase by 77.86% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by B. Riley Securities on November 16, 2022 offering a Neutral rating for the stock and assigned a target price of $44 to it. Coverage by Cantor Fitzgerald stated Cassava Sciences Inc (SAVA) stock as a Neutral in their note to investors on July 15, 2021, suggesting a price target of $100 for the stock. On July 07, 2021, Maxim Group Reiterated their recommendations, while on April 27, 2021, B. Riley Securities Initiated their ratings for the stock with a price target of $78. Stock get a Buy rating from H.C. Wainwright on February 16, 2021.

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