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In the latest trading session, Cassava Sciences, Inc. (SAVA) closed at $79.65, marking a +1.34% move from the previous day. This change outpaced the S&P 500's 1.31% loss on the day.
Heading into today, shares of the company had gained 59.14% over the past month, outpacing the Medical sector's gain of 3.6% and the S&P 500's gain of 1.56% in that time.
SAVA will be looking to display strength as it nears its next earnings release. In that report, analysts expect SAVA to post earnings of -$0.11 per share. This would mark a year-over-year decline of 120%.
Investors should also note any recent changes to analyst estimates for SAVA. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 25.77% lower. SAVA currently has a Zacks Rank of #3 (Hold).
In terms of valuation, SAVA is currently trading at a Forward P/E ratio of 327.5. This valuation marks a premium compared to its industry's average Forward P/E of 16.32.
The Medical - Drugs industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 224, which puts it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Cassava Sciences, Inc. (SAVA) : Free Stock Analysis Report
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