Anavex Life Sciences Corp (AVXL)

[RedShoulder]

Cantor Fitzgerald downgrades SAVA: (no surprise here).

Cassava Sciences (NASDAQ:SAVA) was downgraded by equities researchers at Cantor Fitzgerald from an "overweight" rating to a "neutral" rating in a research report issued on Thursday, The Fly reports.

SAVA has been the subject of several other reports. B. Riley increased their target price on shares of Cassava Sciences from $78.00 to $111.00 and gave the company a "buy" rating in a research note on Wednesday, June 23rd. Zacks Investment Research lowered shares of Cassava Sciences from a "hold" rating to a "sell" rating in a research note on Wednesday, June 23rd. Finally, Jonestrading reissued a "buy" rating on shares of Cassava Sciences in a research note on Tuesday, March 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of "Buy" and an average price target of $53.20.

Cassava Sciences stock opened at $97.00 on Thursday. The company has a 50 day moving average of $68.42. The company has a market capitalization of $3.88 billion, a PE ratio of -334.47 and a beta of 1.09. Cassava Sciences has a 12-month low of $2.78 and a 12-month high of $117.54.

Cassava Sciences (NASDAQ:SAVA) last posted its quarterly earnings data on Tuesday, April 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. Analysts expect that Cassava Sciences will post 0.24 earnings per share for the current year.

Several large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in shares of Cassava Sciences by 22.0% in the 1st quarter. BlackRock Inc. now owns 2,404,922 shares of the company's stock valued at $108,102,000 after acquiring an additional 434,153 shares in the last quarter. Caas Capital Management LP purchased a new stake in shares of Cassava Sciences in the 4th quarter valued at approximately $4,687,000. Nuveen Asset Management LLC lifted its position in shares of Cassava Sciences by 569.1% in the 4th quarter.

Nuveen Asset Management LLC now owns 611,863 shares of the company's stock valued at $2,032,000 after acquiring an additional 520,414 shares in the last quarter. Geode Capital Management LLC lifted its position in Cassava Sciences by 22.7% in the 1st quarter. Geode Capital Management LLC now owns 561,677 shares of the company's stock worth $25,247,000 after buying an additional 103,857 shares in the last quarter. Finally, Bleichroeder LP lifted its position in Cassava Sciences by 75.9% in the 1st quarter. Bleichroeder LP now owns 500,000 shares of the company's stock worth $22,475,000 after buying an additional 215,686 shares in the last quarter. Institutional investors and hedge funds own 26.57% of the company's stock.

https://www.marketbeat.com/instant-alerts/nasdaq-sava-a-buy-or-sell-right-now-2021-07-2-3/