Savara initiated with an Outperform at JMP Securities

JMP Securities analyst Jonathan Wolleben initiated coverage of Savara with an Outperform rating and $8 price target. Savara is developing molgramostim, which could become standard of care for autoimmune pulmonary alveolar proteinosis, a rare autoimmune lung disease, the analyst tells investors in a research note. The firm says the Phase 3 data in Q2 are “derisked” and key catalyst for the shares.