Univest Securities analyst James Jang lowered the firm’s price target on Cassava Sciences to $11 from $12 and keeps a Sell rating on the shares after the company raised $50M of "dilutive" equity at $30 per share. He sees Cassava releasing open-label trial data by the end of the year as the next material news expected from the company.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on SAVA:
- Cassava Sciences Announces Closing of $50 Million Registered Direct Offering
- Cassava (SAVA) Stock: Risk/Reward Equation Is More Balanced, Says Analyst
- Cassava Sciences Announces $50 Million Registered Direct Offering of Common Stock
- Cassava Sciences call volume above normal and directionally bullish
- Cassava Sciences reports Q3 EPS (51c), consensus (48c)
