Analyst Jonathan Wolleben of JMP Securities reiterated a Buy rating on Savara (SVRA – Research Report), retaining the price target of $9.00.
Jonathan Wolleben has given his Buy rating due to a combination of factors related to Savara’s recent developments and market potential. The company has launched its next-generation aPAP ClearPath Dried Blood Spot (DBS) Test in the U.S., which addresses logistical challenges associated with the previous serum-based test. This innovation is expected to improve ease of use, access, and potentially enhance diagnosis rates among patients.
Furthermore, Savara is on track to complete its rolling Biologics License Application (BLA) submission for Molbreevi, which could lead to a Priority Review by the FDA and a potential approval in the fall. The commercial opportunity for aPAP is considered underappreciated, with a significant number of undiagnosed patients who could benefit from the new testing method. Savara’s efforts to identify and diagnose more patients, coupled with the anticipated launch of Molbreevi, position the company for substantial market growth and revenue potential.
Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SVRA in relation to earlier this year.