Cassava Sciences (SAVA – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Soumit Roy from JonesTrading maintained the rating on the stock to a Buy and gave it a $75.00 price target.
Soumit Roy has given a Buy rating to Cassava Sciences’ stock due to a variety of factors. The first of these is the company’s impressive pace in patient enrollment for its two Phase 3 Alzheimer’s trials – RETHINK and REFOCUS. The RETHINK trial, evaluating the efficacy of Simufilam against placebo after 52 weeks, was fully enrolled in approximately 18 months – a faster pace than typically seen with large pharmaceutical trials.
The REFOCUS trial is also progressing well with its enrollment, aiming to reach approximately 1,100 patients. Notably, the Data and Safety Monitoring Board (DSMB) recently recommended continuation of both Phase 3 studies without any changes, indicating the trials’ safety and potential effectiveness thus far. Additionally, Cassava’s financial health is sound, with approximately $168.4 million in cash and equivalents reported at the end of the second quarter in 2023. The combination of these factors led Soumit Roy to rate Cassava Sciences with a Buy.
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Cassava Sciences (SAVA) Company Description:
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.
Read More on SAVA:
- Cassava Sciences completes patient enrollment for Phase 3 trial of simufilam
- Cassava Sciences Completes Patient Enrollment for Pivotal Phase 3 Clinical Trial of Oral Simufilam in Alzheimer’s Disease
- Largest borrow rate increases among liquid names
- Cassava Sciences Announces Positive Interim Safety Review of Simufilam On-going Phase 3 Trials in Patients with Alzheimer’s Disease
- Cassava Sciences announces interim safety review of simufilam
