Savara (NASDAQ:SVRA – Get Free Report)‘s stock had its “market outperform” rating reaffirmed by JMP Securities in a report issued on Monday, Benzinga reports. They currently have a $8.00 price objective on the stock. JMP Securities’ price target suggests a potential upside of 64.95% from the company’s current price.
Separately, Piper Sandler increased their price target on shares of Savara from $7.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $8.20.
Check Out Our Latest Stock Analysis on Savara
Savara Trading Up 3.0 %
Savara (NASDAQ:SVRA – Get Free Report) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. As a group, equities research analysts predict that Savara will post -0.38 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Savara
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jennison Associates LLC increased its holdings in shares of Savara by 128.0% during the fourth quarter. Jennison Associates LLC now owns 8,815,358 shares of the company’s stock valued at $41,432,000 after acquiring an additional 4,948,596 shares in the last quarter. Wellington Management Group LLP purchased a new position in Savara during the 4th quarter valued at $9,683,000. Vivo Capital LLC purchased a new stake in shares of Savara in the 3rd quarter worth $7,232,000. Adage Capital Partners GP L.L.C. increased its position in Savara by 30.9% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 7,938,551 shares of the company’s stock valued at $30,008,000 after buying an additional 1,874,000 shares in the last quarter. Finally, Affinity Asset Advisors LLC purchased a new stake in Savara during the 3rd quarter valued at about $4,347,000. 87.93% of the stock is currently owned by institutional investors.
About Savara
Savara Inc, formerly Mast Therapeutics, Inc, is a clinical-stage pharmaceutical company. The Company is focused on the development and commercialization of novel therapies for the treatment of patients with rare respiratory diseases. Its pipeline includes AeroVanc, Molgradex and AIR001. AeroVanc is an inhaled formulation of vancomycin, which the Company is developing for the treatment of persistent methicillin-resistant Staphylococcus aureus, lung infection in cystic fibrosis patients.
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