In a report released today, Vernon Bernardino from H.C. Wainwright reiterated Cassava Sciences (SAVA – Research Report) to a Buy, with a price target of $124.00.
Vernon Bernardino has given his Buy rating to Cassava Sciences due to several key factors.
Bernardino is particularly encouraged by the progress of the company’s two Phase 3 trials in Alzheimer’s disease (AD), RETHINK-ALZ and REFOCUS-ALZ, involving their experimental treatment, simufilam. Cassava has already managed to enroll more patients than originally planned for the RETHINK-ALZ study, which Bernardino views as a sign of strong interest in the trial. Despite a significant drop in the company’s share price, he sees this as an opportunity to capitalize on an undervalued stock.
Secondly, the endpoints used in both pivotal trials promise to give clear indications of simufilam’s effectiveness in treating AD.
These co-primary endpoints focus on measures of cognition and daily living activities, which are critical for AD patients. Bernardino also notes that an independent Data and Safety Monitoring Board (DSMB) recently recommended that the Phase 3 studies continue without any modifications, which he sees as a further testament to the robustness of the trials. Therefore, he believes these trials should provide a definitive answer regarding simufilam’s potential to slow disease progression in AD patients.
In another report released yesterday, JonesTrading also maintained a Buy rating on the stock with a $75.00 price target.
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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:
- Largest borrow rate increases among liquid names
- 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
- 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
