Savara downgraded to In Line from Outperform at Evercore ISI
The Fly

Savara downgraded to In Line from Outperform at Evercore ISI

Evercore ISI analyst Liisa Bayko downgraded Savara (SVRA) to In Line from Outperform with a price target of $5, down from $7, after the company narrowed timelines for completion of the rolling BLA submission for Molbreevi in aPAP to the end of Q1 of 2025 from the first half. Assuming all goes well, this puts Savara on track for approval by the year-end 2025 assuming priority review and, if approved, the firm believes that Phase 3 IMPALA-2 data should support “a $500M+ product.” After having updated its model, adding expenses in preparation for launch, the firm’s target is now lower and its rating is In Line.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App