Why Cassava Sciences Stock Is Skyrocketing Today

Shares of Cassava Sciences (NASDAQ: SAVA) were 19.2% higher as of 3:20 p.m. EDT on Wednesday. The big jump came after Jones Trading analyst Soumit Roy initiated coverage on the stock with a buy rating. Roy set a one-year price target of $110, a 111% premium over Cassava's closing price on Tuesday.

It's not a good idea to buy a biotech stock just because an analyst is bullish about it. But understanding what an analyst likes about the stock can be helpful.

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Source Fool.com