CervoMed (NASDAQ:CRVO) Research Coverage Started at Brookline Capital Management

Brookline Capital Management began coverage on shares of CervoMed (NASDAQ:CRVOFree Report) in a research note released on Monday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $63.00 price target on the stock. Brookline Capital Management also issued estimates for CervoMed’s Q2 2024 earnings at ($0.42) EPS, Q3 2024 earnings at ($0.41) EPS, Q4 2024 earnings at ($0.44) EPS, FY2024 earnings at ($1.54) EPS and FY2025 earnings at ($3.76) EPS.

Separately, Canaccord Genuity Group lifted their price objective on CervoMed from $50.00 to $65.00 and gave the stock a buy rating in a research note on Monday, April 8th.

Check Out Our Latest Report on CervoMed

CervoMed Stock Down 1.2 %

Shares of NASDAQ:CRVO opened at $15.08 on Monday. CervoMed has a fifty-two week low of $4.28 and a fifty-two week high of $26.38. The business has a 50-day moving average of $19.88 and a two-hundred day moving average of $17.10.

CervoMed (NASDAQ:CRVOGet Free Report) last announced its quarterly earnings results on Tuesday, May 14th. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.05. The company had revenue of $2.35 million during the quarter, compared to analyst estimates of $2.00 million. On average, equities analysts predict that CervoMed will post -1.34 EPS for the current fiscal year.

Hedge Funds Weigh In On CervoMed

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRVO. Adage Capital Partners GP L.L.C. bought a new position in CervoMed during the third quarter valued at about $921,000. CWM LLC bought a new position in CervoMed during the fourth quarter valued at about $292,000. Crown Advisors Management Inc. bought a new position in CervoMed during the first quarter valued at about $2,330,000. Ikarian Capital LLC bought a new stake in shares of CervoMed in the 1st quarter valued at approximately $5,530,000. Finally, RA Capital Management L.P. acquired a new position in shares of CervoMed in the 1st quarter worth approximately $20,075,000. 25.15% of the stock is currently owned by institutional investors.

CervoMed Company Profile

(Get Free Report)

CervoMed Inc, a biotechnology company, engages in the development and commercialization of treatments for age-related neurologic disorders. Its lead drug candidate is neflamapimod, an orally administered small molecule brain penetrant for the treatment of dementia with Lewy bodies (DLB), Alzheimer's diseases, frontotemporal dementia, and ischemic stroke recovery.

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