Cassava Sciences (SAVA)

Jul 21, 2021Trade Ideas

Just yesterday, we highlighted an opportunity in Zoom Video Communications (ZM), which opened at $356.92. This morning, the stock is set to open around $360. With pandemic fears rising again, and concerns about potential lockdowns, ZM could be a top beneficiary.

As for new opportunities, take a look at Cassava Sciences (SAVA).

After running from about $40 to $110, the stock recently pulled back to $90.83, where it caught support. From here, we’d like to see the stock run back to $110.

For one, analysts still like the stock. On July 20, H.C. Wainwright raised its price target to $124 on SAVA. On July 15, Cantor Fitzgerald raised its target to $100. On June 23, B. Riley raised its target to $111. Plus, if SAVA is successful with its Alzheimer’s disease treatment, we could be looking at a big winner here.

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.

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