Guggenheim Lifts Savara (SVRA) Price Target on Pulmonary Alveolar Proteinosis Opportunity

Savara Inc. (NASDAQ:SVRA) is one of the best healthcare penny stocks to buy now. On September 9, Guggenheim raised its price target of the stock to $11 from $8 while reiterating a Buy rating. The price target hike follows an impressive 16% stock rally year to date.

The research firm raised its price target, buoyed by positive developments that affirm long-term prospects. For starters, the company has achieved alignment with the Food and Drug Administration on a Biologics License Application. The company remains on track for a BLA resubmission, with potential FDA approval by mid-next year.

In addition, Savara has confirmed it is switching its primary drug manufacturer from GEMA to Fujifilm Diosynth Biotechnologies. The switch is significant given Fujifilm’s impressive FDA track record. Fujifilm is a perfect fit following new claims suggesting that approximately 50% more patients in the US have autoimmune pulmonary alveolar proteinosis (aPAP).

Savara Inc. (NASDAQ:SVRA) is a clinical-stage biopharmaceutical company focused on developing and commercializing therapies for rare respiratory diseases, such as its lead candidate, molgramostim, an inhaled GM-CSF for autoimmune pulmonary alveolar proteinosis (aPAP).

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Disclosure: None. This article is originally published at Insider Monkey.