CGEM - Cassava Arena and Akouos initiated as buys Cullinan upgraded and more in today's analyst action

Cassava a buy on strength of simufilam dataB. Riley has initiated shares of Cassava Sciences (SAVA) with a buy rating and a $78 price target.Given its most recent close, that represents upside of ~46%.Analyst Mayank Mamtani writes that the strength of the company Alzheimer's candidate simufilam supports disease-modifying and symptomatic benefits.Mamtani adds that a data readout at nine and 12 months of treatment expected in, respectively, July and September, could additionally de-risk upcoming phase 3 trials.Citi initiates Arena and Akouos as buysDespite a failure in atopic dermatitis, Citi believes that Arena's (ARNA) etrasimod could be used before biologics and JAK inhibitors for autoimmune conditions.Analyst Neena Bitritto-Garg has initiated shares with a buy rating and $104 price target.That implies upside of ~51%"As evidenced by comps like Otezla in psoriasis, a market for a safe, convenient option could be meaningful, even if efficacy data fall slightly short numerically in Phase 3 studies,

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Cassava, Arena, and Akouos initiated as buys, Cullinan upgraded, and more in today's analyst action