Cassava Sciences, Inc. (SAVA) Gains As Market Dips: What You Should Know
In the latest trading session, Cassava Sciences, Inc. (SAVA) closed at $43.95, marking a +0.07% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.16%.
Prior to today's trading, shares of the company had lost 58.63% over the past month. This has lagged the Medical sector's loss of 0.24% and the S&P 500's gain of 0.46% 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 -$0.17 per share. This would mark a year-over-year decline of 183.33%.
It is also important to note the recent changes to analyst estimates for SAVA. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.52% higher within the past month. SAVA is currently a Zacks Rank #3 (Hold).
The Medical - Drugs industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 198, which puts it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Cassava Sciences, Inc. (SAVA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
