Oppenheimer Starts Savara (SVRA) at Outperform

Oppenheimer analyst Francois Brisebois initiates coverage on Savara (NASDAQ: SVRA) with a Outperform rating and a price target of $4.00.

The analyst comments "Savara (SVRA) has recently simplified the company to focus solely on its main value driver, molgramostim nebulizer solution (molgramostim) for Autoimmune Pulmonary Alveolar Proteinosis (aPAP). Although its first Phase 3 IMPALA study didn't meet its primary endpoint (p=0.17), we believe IMPALA 2 (expected to start in 2Q21) is significantly de-risked due to important changes in study design (blessed by the FDA) such as the primary endpoint and patient population. We believe CMO Chowdhury's decision to join (11/18/19) after IMPALA results, followed by the Breakthrough Therapy Designation (BTD) on 12/20/19 and the announcement of the NEJM publication (9/8/20), attest to molgramostim's potential in this significant unmet need of ultra-rare aPAP."

For an analyst ratings summary and ratings history on Savara click here. For more ratings news on Savara click here.

Shares of Savara closed at $1.60 yesterday.

You May Also Be Interested In

• 'Protection Against the Coming Storm': Goldman Sachs Pops on BofA Upgrade to Buy
• TVS Motor Co Ltd (TVSL:IN) PT Raised to INR1,000 at Jefferies
• Barnes & Noble Education (BNED) PT Lowered to $4 at Needham & Company