Brokerages Anticipate Cassava Sciences, Inc. (NASDAQ:SAVA) Will Announce Earnings of -$0.42 Per Share

Equities analysts forecast that Cassava Sciences, Inc. (NASDAQ:SAVAGet Rating) will announce earnings of ($0.42) per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Cassava Sciences’ earnings, with estimates ranging from ($0.50) to ($0.26). Cassava Sciences reported earnings of ($0.13) per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 223.1%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Cassava Sciences will report full-year earnings of ($1.75) per share for the current financial year, with EPS estimates ranging from ($2.24) to ($1.11). For the next fiscal year, analysts anticipate that the company will post earnings of ($1.00) per share, with EPS estimates ranging from ($3.08) to $1.69. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Cassava Sciences.

Cassava Sciences (NASDAQ:SAVAGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.02).

A number of brokerages recently weighed in on SAVA. B. Riley cut their price objective on shares of Cassava Sciences from $72.00 to $58.00 in a research note on Friday, May 6th. Univest Sec assumed coverage on Cassava Sciences in a research report on Monday, April 4th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $124.25.

Shares of SAVA stock traded up $1.41 during mid-day trading on Wednesday, reaching $26.47. 12,838 shares of the company were exchanged, compared to its average volume of 1,760,548. Cassava Sciences has a fifty-two week low of $15.72 and a fifty-two week high of $146.16. The company has a market capitalization of $1.06 billion, a P/E ratio of -22.33 and a beta of 0.93. The business’s 50 day simple moving average is $27.39 and its 200 day simple moving average is $40.03.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. increased its position in Cassava Sciences by 2.3% in the 3rd quarter. Principal Financial Group Inc. now owns 129,366 shares of the company’s stock valued at $8,032,000 after buying an additional 2,876 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Cassava Sciences by 6.2% in the third quarter. BlackRock Inc. now owns 2,603,878 shares of the company’s stock worth $161,651,000 after purchasing an additional 151,999 shares during the period. Barclays PLC increased its stake in Cassava Sciences by 1,073.3% in the third quarter. Barclays PLC now owns 56,801 shares of the company’s stock valued at $3,525,000 after acquiring an additional 51,960 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Cassava Sciences by 20.1% during the third quarter. Teacher Retirement System of Texas now owns 5,686 shares of the company’s stock worth $353,000 after purchasing an additional 951 shares during the period. Finally, O Shaughnessy Asset Management LLC purchased a new stake in shares of Cassava Sciences during the third quarter worth about $31,000. 34.01% of the stock is currently owned by hedge funds and other institutional investors.

About Cassava Sciences (Get Rating)

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 2b clinical trial; and investigational diagnostic product candidate is SavaDx, a blood-based biomarker/diagnostic to detect Alzheimer's disease.

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