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Cassava Sciences, Inc. (SAVA) Gains As Market Dips: What You Should Know

Cassava Sciences, Inc. (SAVA) closed at $37.65 in the latest trading session, marking a +0.51% move from the prior day. This move outpaced the S&P 500's daily loss of 0.43%. Elsewhere, the Dow lost 0.34%, while the tech-heavy Nasdaq lost 0.62%.

Heading into today, shares of the company had lost 23.89% over the past month, lagging the Medical sector's loss of 3.51% and the S&P 500's loss of 6.57% in that time.

Wall Street will be looking for positivity from Cassava Sciences, Inc. as it approaches its next earnings report date. On that day, Cassava Sciences, Inc. is projected to report earnings of -$0.42 per share, which would represent a year-over-year decline of 366.67%.

Investors might also notice recent changes to analyst estimates for Cassava Sciences, Inc.These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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. The Zacks Consensus EPS estimate has moved 36.23% higher within the past month. Cassava Sciences, Inc. is holding a Zacks Rank of #3 (Hold) right now.

The Medical - Drugs industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 162, which puts it in the bottom 37% 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.

To follow SAVA in the coming trading sessions, be sure to utilize Zacks.com.


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