Savara Inc (SVRA) shares are surging 8.14% in pre-market trading on Friday, following a series of positive analyst actions that have significantly boosted investor confidence. The biotechnology company has attracted favorable attention from Wall Street, with multiple firms expressing optimism about its prospects.

The rally is primarily driven by two key analyst moves. H.C. Wainwright made a notable upgrade, raising their rating on Savara from Neutral to Buy. Analyst Andrew Fein also significantly increased the price target from $2 to $5, citing improved resubmission prospects for the company. Simultaneously, Oppenheimer reiterated its Outperform rating on Savara and raised its price target from $5 to $6, further fueling the positive sentiment.

These bullish moves from analysts reflect growing optimism about Savara's potential. According to FactSet, the company now has an average rating of Buy and a mean price target of $7.93, suggesting significant upside potential from its current trading levels. The pre-market rally indicates that investors are responding positively to these upward revisions, potentially anticipating stronger performance from Savara in the near future. As the market opens, all eyes will be on SVRA to see if this momentum can be sustained throughout the trading session.