By ST Staff
4:40 AM UTC
Shares of Savara Inc. (SVRA) continued to gain in Wednesday’s pre-market trading session. SVRA stock price saw an uptrend of 7.46% to reach $2.09 a share as of this writing. Savara stock was up by 21.56% at the previous closing. It seems that analyst rating is driving the SVRA stock price to high. Let’s understand the bullish sentiment in depth.
Savara Inc. (SVRA) is working as an orphan disease lung company mainly focused on autoimmune pulmonary alveolar proteinosis (aPAP), a disease in which excessive protein in the lungs causes difficulty in breathing.
Savara was performing well in the previous trading session and continuing the trend so far. Some of the street members believe that the current share price of SVRA stock points to the effective entry point. A famous piper sandler analyst Yasmeen Rahimi has given the buy rating to SVRA stock and set a $7 target price which suggests that SVRA stock has the potential to soar over 309% in the coming year.
Rahimi thinks that Molgradexhas the great potential to treat autoimmune pulmonary alveolar proteinosis (PAP) and would be proved to be game-changer therapeutic in the future. Hence there is a strong possibility that SVRA stock would outperform in the future. The analyst further depicted the validation of Molgradex by saying that it has already received the Orphan Drug Designation in the U.S for seven years and EU for ten years in addition to Fast Track Designation and Breakthrough Therapy Designation by FDA.
Savara stock announced the public offering of shares of its common stock on March 10, 2021, which SVRA closed on March 15, 2021. A total of 57,479,978 shares were included in that offering at $1.45 per share. The net proceeds resulted from this offering were intended to support the working capital of Savara’s operations in different sectors.
Savara stock is rising as investors are responding in response to the analyst rating. The three recent reviews of Buy with an average target price of $4.67 point to the 173% growth for this penny stock in the next year. Hence SVRA stock can be a good bet in long run.