CervoMed (NASDAQ:CRVO) Earns Buy Rating from D. Boral Capital

CervoMed (NASDAQ:CRVO)‘s stock had its “buy” rating reaffirmed by research analysts at D. Boral Capital in a report released on Wednesday,Benzinga reports. They presently have a $31.00 target price on the stock.

A number of other equities research analysts have also commented on CRVO. Chardan Capital raised their price target on CervoMed from $15.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Roth Mkm dropped their price target on CervoMed from $19.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CervoMed in a research report on Wednesday, January 21st. Zacks Research upgraded CervoMed from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, HC Wainwright reiterated a “buy” rating and set a $25.00 price objective on shares of CervoMed in a report on Thursday, December 18th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

CervoMed Price Performance

NASDAQ CRVO opened at $3.84 on Wednesday. The firm has a market cap of $35.56 million, a P/E ratio of -1.29 and a beta of -0.67. The stock’s 50-day moving average is $4.44 and its 200-day moving average is $6.67. CervoMed has a one year low of $3.51 and a one year high of $13.13.

CervoMed (NASDAQ:CRVO) last released its quarterly earnings results on Friday, March 13th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). The business had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.84 million. CervoMed had a negative return on equity of 96.04% and a negative net margin of 672.80%. Equities analysts anticipate that CervoMed will post -1.88 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CRVO. Rhumbline Advisers grew its holdings in shares of CervoMed by 35.5% during the first quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock worth $53,000 after buying an additional 1,526 shares in the last quarter. Marshall Wace LLP bought a new position in CervoMed in the second quarter valued at approximately $76,000. XTX Topco Ltd bought a new position in CervoMed in the fourth quarter valued at approximately $81,000. Jane Street Group LLC bought a new position in CervoMed in the fourth quarter valued at approximately $88,000. Finally, GSA Capital Partners LLP bought a new position in CervoMed in the third quarter valued at approximately $91,000. 25.15% of the stock is currently owned by institutional investors.

About CervoMed

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. The company also develops EIP200 for central nervous system which is in preclinical trials. CervoMed Inc was founded in 2010 and is headquartered in Boston, Massachusetts.