H.C. Wainwright upgrades Savara to Buy on resubmission prospects

H.C. Wainwright analyst Andrew Fein upgraded Savara (SVRA) to Buy from Neutral with a price target of $5, up from $2. The company has reached alignment with the FDA following a Type A meeting on the chemistry, manufacturing, and controls data needed to resubmit the biologics license application for Molbreevi, the analyst tells investors in a research note. The firm believes the data generated from the campaigns at Fuji and alignment with the FDA lessens the risk of the filling not being accepted.