Savara Inc (SVRA) stock is surging 8.14% in pre-market trading on Friday, following a series of bullish analyst actions that have significantly boosted investor confidence. The biotechnology company has received multiple upgrades and price target increases, signaling growing optimism about its future prospects.

H.C. Wainwright made a notable move by upgrading Savara from Neutral to Buy and more than doubling its price target from $2 to $5. Analyst Andrew Fein cited improved resubmission prospects as a key factor in the upgrade. Simultaneously, Oppenheimer reiterated its Outperform rating on Savara and raised its price target from $5 to $6, further fueling the positive sentiment.

The overall analyst outlook for Savara remains bullish, with the company maintaining an average rating of Buy. According to analysts polled by FactSet, the mean price target for SVRA stock now stands at $7.93, suggesting significant upside potential from its current trading levels. This wave of positive analyst actions appears to be the primary driver behind Savara's pre-market rally, as investors react to the improved outlook for the company.