JMP Securities Reiterates “Market Outperform” Rating for Savara (NASDAQ:SVRA)

Savara (NASDAQ:SVRA)‘s stock had its “market outperform” rating reissued by stock analysts at JMP Securities in a report issued on Thursday, Benzinga reports. They currently have a $8.00 price objective on the stock. JMP Securities’ price target indicates a potential upside of 66.32% from the company’s previous close.

Separately, Piper Sandler upped their price objective on shares of Savara from $7.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $8.20.

Savara Price Performance

NASDAQ:SVRA opened at $4.81 on Thursday. The firm’s fifty day moving average price is $4.97 and its two-hundred day moving average price is $4.40. The company has a market cap of $664.50 million, a P/E ratio of -14.58 and a beta of 0.77. Savara has a one year low of $1.76 and a one year high of $5.70. The company has a debt-to-equity ratio of 0.19, a current ratio of 15.66 and a quick ratio of 15.66.

Savara (NASDAQ:SVRA) last announced its 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. Equities analysts expect that Savara will post -0.38 earnings per share for the current year.

Hedge Funds Weigh In On Savara

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp lifted its stake in Savara by 12.4% during the 1st quarter. State Street Corp now owns 271,611 shares of the company’s stock valued at $356,000 after acquiring an additional 30,062 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Savara by 235.3% in the 2nd quarter. Renaissance Technologies LLC now owns 56,000 shares of the company’s stock worth $85,000 after acquiring an additional 39,300 shares during the last quarter. Millennium Management LLC increased its holdings in Savara by 12.3% in the 2nd quarter. Millennium Management LLC now owns 156,314 shares of the company’s stock worth $238,000 after acquiring an additional 17,093 shares during the last quarter. Jane Street Group LLC purchased a new position in Savara during the 3rd quarter valued at about $26,000. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new position in Savara during the 3rd quarter valued at about $1,887,000. 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.