SVRA Stock Price Increases Over 10% Pre-Market: Why It Happened

By Amit Chowdhry ● Mar 17, 2021
  • The stock price of Savara Inc (NASDAQ: SVRA) is trading at above 10% pre-market. This is why it happened.

The stock price of Savara Inc (NASDAQ: SVRA) is trading at above 10% pre-market. This appears to be a continuation in momentum from this week as the stock price increased over 68% between March 15 afternoon and March 16 morning. One of the biggest reasons for the stock price increase has to do with recent research reports by brokerages Piper Sandler and Oppenheimer.

Piper Sandler analyst Yasmeen Rahimi had recently initiated coverage of Savara with an “Overweight” rating and a $7 price target. Rahimi cited the potential success of Molgradex for the treatment of autoimmune pulmonary alveolar proteinosis. And the top-line data in Q2 2024 is de-risked by the Phase 2b/3 IMPALA 1 dataset. The $7 price target represented a 295.48% upside from the previous close at the time of the research report.

And recently Oppenheimer had initiated coverage of Savara with an “Outperform” rating and a price target of $4, which represented an upside of over 150% from the previous close at the time of the report.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.