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Jul 22, 2021Trade Ideas

Just yesterday, we highlighted an opportunity in Cassava Sciences (SAVA), which opened at $94.31. This morning, it’s set to open at $119.75, and is still a great opportunity.

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.

In addition, 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.

As for new opportunities, take a look at Facebook (FB).

After pulling back from a high of $358.49 to $334, the stock caught strong support at its 50-day moving average, and is gaining upside momentum. From a current price of $346.23, we’d like to see a near-term test of $360. Helping, Jefferies analyst Brent Thill recently raised his price target on Facebook to $400 from $385 with a buy rating.


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