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Cassava Sciences, Inc. (SAVA) closed the most recent trading day at $30.44, moving -1.17% from the previous trading session. This change lagged the S&P 500's 3.06% gain on the day. Meanwhile, the Dow gained 2.68%, and the Nasdaq, a tech-heavy index, lost 0.09%.
Heading into today, shares of the company had gained 20.78% over the past month, outpacing the Medical sector's loss of 2.37% and the S&P 500's loss of 4.31% in that time.
Investors will be hoping for strength from Cassava Sciences, Inc. as it approaches its next earnings release. On that day, Cassava Sciences, Inc. is projected to report earnings of -$0.42 per share, which would represent a year-over-year decline of 223.08%.
It is also important to note the recent changes to analyst estimates for Cassava Sciences, Inc.These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Cassava Sciences, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 146, putting it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.