Bullish pronouncements from analysts almost always lead to a boost to the stock price of a company and hence, it was no surprise when the Savara Inc (NASDAQ: SVRA) stock emerged as one of the gainers on Tuesday.
On Monday, the firm Oppenheimer started covering the Savara stock and rated it as ‘outperform’. More importantly, the firm set the target price at $4 a share, which indicates a potential upside of as steep as 154.8% from last Friday’s close.
The development naturally led to a lot of interest in the stock from among investors and it jumped by as high as 16% on Tuesday. Oppenheimer seems to be particularly enthused with regards to the company’s product molgramostim, which is meant for the treatment of the rare lung disease aPAP (autoimmune pulmonary alveolar proteinosis). Savara is soon going to have the Phase III trial of the product and hence, it can be said that significant developments could be in store soon. Investors could consider keeping an eye on the stock.
Writing for business and finance publishers has become his passion over the last decades after he completed a master’s degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.