Savara (NASDAQ:SVRA) Price Target Raised to $8.00 at Oppenheimer

Key Points

• Oppenheimer has raised Savara's price target from $6.00 to $8.00, indicating a potential upside of 115.05% from its current price.
• Multiple analysts have varying price targets for Savara, with an average consensus target of $7.00 and a majority rating it as a 'Buy.'
• Insider Richard J. Hawkins recently increased his stake in Savara by purchasing 48,225 shares, demonstrating confidence in the company's future performance.

Savara (NASDAQ:SVRA - Get Free Report) had its price target boosted by research analysts at Oppenheimer from $6.00 to $8.00 in a research note issued on Monday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's price target would suggest a potential upside of 115.05% from the stock's current price.

A number of other equities research analysts have also issued reports on SVRA. Guggenheim reaffirmed a "buy" rating and issued a $8.00 target price (down previously from $9.00) on shares of Savara in a research note on Wednesday, May 28th. Wells Fargo & Company reduced their price target on Savara from $8.00 to $7.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 28th. HC Wainwright increased their price target on Savara from $5.00 to $8.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Finally, Evercore ISI reduced their price target on Savara from $3.00 to $2.00 and set an "in-line" rating on the stock in a research note on Wednesday, May 28th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $7.00.

Savara Price Performance

SVRA stock opened at $3.72 on Monday. Savara has a 1 year low of $1.89 and a 1 year high of $4.70. The company has a debt-to-equity ratio of 0.25, a quick ratio of 11.08 and a current ratio of 11.08. The stock's 50 day moving average price is $2.71 and its 200 day moving average price is $2.71. The firm has a market cap of $642.96 million, a P/E ratio of -7.44 and a beta of 0.56.

Savara (NASDAQ:SVRA - Get Free Report) last posted its earnings results on Wednesday, August 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02). On average, sell-side analysts expect that Savara will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Richard J. Hawkins purchased 48,225 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was acquired at an average cost of $2.04 per share, for a total transaction of $98,379.00. Following the completion of the purchase, the director owned 115,466 shares of the company's stock, valued at approximately $235,550.64. This trade represents a 71.72% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.13% of the company's stock.

Hedge Funds Weigh In On Savara

A number of hedge funds have recently bought and sold shares of SVRA. VR Adviser LLC grew its stake in Savara by 172.7% in the second quarter. VR Adviser LLC now owns 8,884,263 shares of the company's stock worth $20,256,000 after purchasing an additional 5,626,624 shares in the last quarter. Bain Capital Life Sciences Investors LLC grew its stake in Savara by 20.8% in 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 in the last quarter. Frazier Life Sciences Management L.P. grew its stake in Savara by 32.4% in 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 in the last quarter. Vestal Point Capital LP grew its stake in Savara by 33.2% in the fourth quarter. Vestal Point Capital LP now owns 10,775,000 shares of the company's stock worth $33,079,000 after purchasing an additional 2,685,000 shares in the last quarter. Finally, Emerald Advisers LLC lifted its holdings in Savara by 32.5% in the first quarter. Emerald Advisers LLC now owns 3,090,213 shares of the company's stock worth $8,560,000 after acquiring an additional 757,533 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

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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