$Cassava Sciences (SAVA.US)$ From Yahoo Finance "Upside Pote...

$Cassava Sciences (SAVA.US)$ From Yahoo Finance

"Upside Potential: 617.16%

Cassava Sciences Inc (NASDAQ:SAVA) is one of the best debt-free stocks to buy to gain exposure in the healthcare sector. It operates as a clinical-stage biotechnology company developing drugs for neurodegenerative diseases. Its lead product is Simufilam, a small molecule drug for detecting Alzheimer’s disease.

While Cassava Sciences Inc (NASDAQ:SAVA) is flat for the year, it more than doubled in value in June before experiencing a deep pullback. The stock rallied by over 30% after Chief Executive Officer Rick Barry issued a positive open letter signaling positive phase 2 results for its experimental Alzheimer’s disease drug Simufilam.

The deep pullback came on Hoau-Yan Wang, a former consultant to Cassava Sciences Inc (NASDAQ:SAVA), being indicted on fraud-related applications made on the experimental drug. The company has already refuted any wrongdoing.

Cassava Sciences Inc.’s (NASDAQ:SAVA) debt level stood at about $14.19 million as of the end of last year. The company also boasts an enterprise value of $935.78 million with a market cap of $1.06 billion.

Analysts on Wall Street rate Cassava Sciences Inc (NASDAQ:SAVA) as a ‘Moderate Buy’ with a $107 price target, implying a 617.16%upside potential from current levels. Insider Monkey database indicates that 6 out of the 920 hedge funds tracked held stakes in the company as of the end of Q1 2024.

Overall SAVA ranks 1st on our list of the best debt free stocks. While we acknowledge the potential of SAVA as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an A.I. stock that is more promising than SAVA check out our report about the cheapest AI stock."