Lucid files for 1-for-10 reverse stock split requiring shareholder approval
In a turbulent market environment, Savara Inc. (NASDAQ:SVRA) stock has reached a 52-week low, dipping to $2.6. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 17.7 and holds more cash than debt on its balance sheet. This price level reflects a significant downturn for the company, which has seen its shares struggle under the weight of various market pressures. Over the past year, the stock has experienced a substantial decline of 45.49%. Despite current challenges, analyst price targets range from $5 to $16, suggesting potential upside opportunities. This downturn highlights the challenges faced by the company in a competitive and ever-changing pharmaceutical landscape, as investors show concern over the company’s performance and future prospects. For deeper insights and additional analysis, including 7 more key ProTips and a comprehensive research report, visit InvestingPro.
In other recent news, Savara Inc. reported earnings per share at ($0.12), slightly missing the ($0.10) forecast by Oppenheimer and consensus estimates. Despite the shortfall, Piper Sandler, H.C. Wainwright, and Oppenheimer maintained their positive ratings on Savara. The company also announced a $100 million stock offering of 26,246,720 shares managed by firms such as Jefferies, Piper Sandler, and Guggenheim Securities. Evercore ISI downgraded the stock from Outperform to In Line and reduced the price target to $5.00. H.C. Wainwright also adjusted Savara’s price target, lowering it from $10.00 to $6.00 due to concerns over the company’s ability to meet patient identification goals for Molbreevi. Savara has set bonus targets for its executive officers for 2025, with actual bonuses contingent upon the achievement of specific performance goals. The company is also on track for potential approval by the end of 2025 for MOLBREEVI™s in autoimmune pulmonary alveolar proteinosis (aPAP), assuming the treatment receives priority review. These are some of the recent developments concerning Savara Inc.
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