Savara (NASDAQ:SVRA) Releases Earnings Results, Misses Expectations By $0.02 EPS

Key Points

• Savara reported a loss of $0.14 EPS for the quarter, missing analysts' expectations of ($0.12) by $0.02.
• Despite the earnings miss, Savara's stock increased by 4.7% to $2.70, with a market capitalization of $466.66 million.
• Several analysts have lowered their price targets for Savara, with HC Wainwright reducing its target from $6.00 to $2.00.

Savara (NASDAQ:SVRA - Get Free Report) announced its quarterly earnings data on Monday. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02), Zacks reports.

Savara Stock Up 4.7%

Shares of NASDAQ:SVRA traded up $0.12 during midday trading on Wednesday, hitting $2.70. 1,802,105 shares of the stock were exchanged, compared to its average volume of 1,213,302. The company has a debt-to-equity ratio of 0.20, a quick ratio of 14.91 and a current ratio of 14.91. Savara has a 52-week low of $1.89 and a 52-week high of $4.70. The business's fifty day simple moving average is $2.36 and its two-hundred day simple moving average is $2.65. The company has a market capitalization of $466.66 million, a PE ratio of -5.62 and a beta of 0.40.

Insider Activity

In other news, Director Richard J. Hawkins acquired 48,225 shares of the business'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 acquisition, the director owned 115,466 shares in the company, valued at approximately $235,550.64. The trade was a 71.72% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.33% of the company's stock.

Institutional Trading of Savara

Several hedge funds and other institutional investors have recently modified their holdings of SVRA. Prudential Financial Inc. acquired a new position in Savara during the second quarter worth $30,000. XTX Topco Ltd acquired a new position in Savara during the second quarter worth $201,000. Invesco Ltd. increased its position in Savara by 35.4% during the second quarter. Invesco Ltd. now owns 120,891 shares of the company's stock worth $276,000 after buying an additional 31,633 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Savara by 10.8% during the second quarter. Rhumbline Advisers now owns 170,176 shares of the company's stock worth $388,000 after buying an additional 16,634 shares during the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SVRA shares. HC Wainwright downgraded Savara from a "buy" rating to a "neutral" rating and cut their price objective for the company from $6.00 to $2.00 in a research report on Thursday, May 29th. Guggenheim restated a "buy" rating and issued a $8.00 target price (down previously from $9.00) on shares of Savara in a report on Wednesday, May 28th. Wells Fargo & Company reduced their target price on Savara from $8.00 to $7.00 and set an "overweight" rating for the company in a report on Wednesday, May 28th. Finally, Evercore ISI reduced their target price on Savara from $3.00 to $2.00 and set an "in-line" rating for the company in a report on Wednesday, May 28th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $5.60.

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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