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In the latest trading session, Cassava Sciences, Inc. (SAVA) closed at $34.85, marking a -0.68% move from the previous day. This change lagged the S&P 500's 0.36% gain on the day.
Heading into today, shares of the company had lost 42.95% over the past month, lagging the Medical sector's loss of 2.53% and the S&P 500's gain of 5.21% in that time.
Wall Street will be looking for positivity from SAVA as it approaches its next earnings report date. In that report, analysts expect SAVA to post earnings of -$0.08 per share. This would mark a year-over-year decline of 60%.
Investors should also note any recent changes to analyst estimates for SAVA. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 2.94% lower. SAVA is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, SAVA currently has a Forward P/E ratio of 43.24. This valuation marks a premium compared to its industry's average Forward P/E of 14.68.
The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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Cassava Sciences, Inc. (SAVA) : Free Stock Analysis Report
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