Evercore ISI Lowers Savara (NASDAQ:SVRA) Price Target to $2.00

Savara (NASDAQ:SVRA - Get Free Report) had its target price dropped by equities research analysts at Evercore ISI from $3.00 to $2.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "in-line" rating on the stock. Evercore ISI's target price indicates a potential downside of 4.08% from the company's previous close.

Several other research analysts also recently weighed in on SVRA. Wells Fargo & Company lowered their price objective on shares of Savara from $8.00 to $7.00 and set an "overweight" rating on the stock in a report on Wednesday. HC Wainwright reiterated a "buy" rating and issued a $6.00 target price on shares of Savara in a report on Friday, March 28th. Finally, Guggenheim lowered their target price on shares of Savara from $9.00 to $8.00 and set a "buy" rating for the company in a report on Wednesday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Savara presently has a consensus rating of "Moderate Buy" and an average target price of $7.83.

Savara Stock Performance

Shares of NASDAQ SVRA traded up $0.15 during mid-day trading on Wednesday, reaching $2.09. 2,535,064 shares of the company were exchanged, compared to its average volume of 1,406,623. The company's 50-day simple moving average is $2.95 and its 200-day simple moving average is $2.97. The company has a quick ratio of 17.70, a current ratio of 17.70 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $360.37 million, a P/E ratio of -4.85 and a beta of 0.44. Savara has a twelve month low of $1.89 and a twelve month high of $5.11.

Savara (NASDAQ:SVRA - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12). As a group, research analysts predict that Savara will post -0.45 earnings per share for the current year.

Hedge Funds Weigh In On Savara

Several institutional investors have recently added to or reduced their stakes in SVRA. Exome Asset Management LLC boosted its position in Savara by 19.5% during the first quarter. Exome Asset Management LLC now owns 836,397 shares of the company's stock worth $2,317,000 after purchasing an additional 136,699 shares during the period. Bain Capital Life Sciences Investors LLC boosted its position in Savara by 20.8% during the first quarter. Bain Capital Life Sciences Investors LLC now owns 17,600,621 shares of the company's stock worth $48,754,000 after purchasing an additional 3,035,164 shares during the period. ADAR1 Capital Management LLC boosted its position in Savara by 37.6% during the first quarter. ADAR1 Capital Management LLC now owns 1,360,291 shares of the company's stock worth $3,768,000 after purchasing an additional 371,823 shares during the period. Vestal Point Capital LP boosted its position in Savara by 2.1% during the first quarter. Vestal Point Capital LP now owns 11,000,000 shares of the company's stock worth $30,470,000 after purchasing an additional 225,000 shares during the period. Finally, Frazier Life Sciences Management L.P. boosted its position in Savara by 32.4% during the first quarter. Frazier Life Sciences Management L.P. now owns 11,462,301 shares of the company's stock worth $31,751,000 after purchasing an additional 2,801,922 shares during the period. Institutional investors own 87.93% of the company's stock.

Savara Company Profile

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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