Savara initiated with an Overweight at Wells Fargo

Wells Fargo analyst Tiago Fauth initiated coverage of Savara (SVRA) with an Overweight rating and $8 price target The firm says ultrarare disease stories like Savara are often overlooked due to a small prevalent population. However, “strong” clinical data, a major unmet need, chronic therapy, no competition, pricing power, and durable peak sales “set up a sizable opportunity” in the shares, the analyst tells investors in a research note. Wells believes Savara’s “solid fundamentals outweigh ultrarare disease preconceptions.”