7 Best Debt Free Stocks To Buy

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1. Cassava Sciences Inc (NASDAQ:SAVA)

Market Cap as of 16/08/2024: $1.36 Billion

Enterprise Value: $1.24 Billion

Upside Potential: 617.16%

Cassava Sciences Inc (NASDAQ:SAVA) is one of the best debt-free stocks to buy to gain exposure in the healthcare sector. It operates as a clinical-stage biotechnology company developing drugs for neurodegenerative diseases. Its lead product is Simufilam, a small molecule drug for detecting Alzheimer’s disease.

While Cassava Sciences Inc (NASDAQ:SAVA) is flat for the year, it more than doubled in value in June before experiencing a deep pullback. The stock rallied by over 30% after Chief Executive Officer Rick Barry issued a positive open letter signaling positive phase 2 results for its experimental Alzheimer’s disease drug Simufilam.

The deep pullback came on Hoau-Yan Wang, a former consultant to Cassava Sciences Inc (NASDAQ:SAVA), being indicted on fraud-related applications made on the experimental drug. The company has already refuted any wrongdoing.

Cassava Sciences Inc.’s (NASDAQ:SAVA) debt level stood at about $14.19 million as of the end of last year. The company also boasts an enterprise value of $935.78 million with a market cap of $1.06 billion.

Analysts on Wall Street rate Cassava Sciences Inc (NASDAQ:SAVA) as a ‘Moderate Buy’ with a $107 price target, implying a 617.16%upside potential from current levels. Insider Monkey database indicates that 6 out of the 920 hedge funds tracked held stakes in the company as of the end of Q1 2024.

The best debt-free stocks to buy offer some of the best investment opportunities owing to their financial stability and significant upside potential. However, given that the artificial intelligence arms race is just starting, under-the-radar A.I. stocks are trading at highly discounted valuations with incredible promise for anyone looking to diversify their portfolio. If you are looking for an A.I. stock that is more promising than the top activist investment plays, check out our report about the cheapest AI stock.

READ NEXT: $30 Trillion Opportunity: 15 Best Humanoid Robot Stocks to Buy According to Morgan Stanley and Jim Cramer Says NVIDIA ‘Has Become A Wasteland’.

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