Savara Inc. (SVRA) Upgraded to Buy After FDA CMC Breakthrough

Savara Inc. (NASDAQ:SVRA) is among the best US stocks under $10 to invest in. H.C. Wainwright has raised the price target on Savara Inc. (NASDAQ:SVRA) to $5.00 from $2.00, while upgrading the stock from Neutral to Buy. Much of this optimism is driven by the company’s agreement with the FDA on Chemistry, Manufacturing, and Controls (CMC) data requirements.

During a Type A meeting, Savara Inc. (NASDAQ:SVRA) resubmitted a Biologics License Application (BLA) for Molbreevi, after being refused a File letter from the agency. Andrew Fein, an analyst at H.C. Wainwright, sees improved results for the company’s BLA, which is set to be resubmitted in December.

Close-up of an inhaler, representing the inhalation of the molgramostim product candidate.

Replacing the previous drug substance manufacturer, GEMA Biotech, the filing now includes Fujifilm Diosynth Biotechnologies. Many believe it to be a “make it or break it” event, and certainly, the company now appears poised to make it.

Savara Inc. (NASDAQ:SVRA) is a clinical-stage biopharmaceutical company based in Pennsylvania that provides solutions for rare respiratory diseases. Founded in 2007, the company is committed to developing innovative therapies to improve the lives of many.

While we acknowledge the potential of SVRA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SVRA and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.

Disclosure: None.