Cassava Sciences (SAVA) is soaring again.
After pulling back to strong support around $91, the stock is back to $108 thanks to new price targets, and progress on its lead drug candidate for Alzheimer’s.
H.C. Wainwright raised its price target to $124 on SAVA. Cantor Fitzgerald raised its target to $100. Better, the company already found that “interim analysis from an open-label study of simufilam, its lead drug candidate for the treatment of Alzheimer’s disease. Patients’ cognition and behavior scores both improved following six months of simufilam treatment, with no safety issues,” as noted in a company press release.
Helping, the company will present its product candidates at the 2021 Alzheimer’s Association International Conference on July 26. These include “Cassava Sciences’ investigational product candidates include simufilam, a drug treatment for Alzheimer’s disease, and SavaDx, a biomarker/diagnostic to detect Alzheimer’s disease with a simple blood test,” as noted in a company press release.
Further solid news on its Alzheimer’s treatment could send SAVA screaming higher.