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

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

A number of other equities research analysts have also recently issued reports on CRVO. Cantor Fitzgerald assumed coverage on shares of CervoMed in a report on Thursday, December 18th. They set an “overweight” rating on the stock. HC Wainwright reiterated a “buy” rating and set a $25.00 price objective on shares of CervoMed in a research note on Thursday, December 18th. Zacks Research upgraded CervoMed from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Chardan Capital reaffirmed a “buy” rating and set a $15.00 target price on shares of CervoMed in a report on Thursday, March 5th. Finally, Brookline Capital Acquisition upgraded CervoMed to a “strong-buy” rating in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, CervoMed has an average rating of “Moderate Buy” and an average price target of $23.60.

CervoMed Price Performance

Shares of CRVO traded down $0.03 during trading hours on Monday, hitting $4.22. The company’s stock had a trading volume of 62,456 shares, compared to its average volume of 92,640. The company has a market cap of $39.03 million, a price-to-earnings ratio of -1.42 and a beta of -0.77. The business has a 50 day simple moving average of $5.49 and a two-hundred day simple moving average of $7.30. CervoMed has a 52-week low of $3.58 and a 52-week high of $16.94.

CervoMed (NASDAQ:CRVO) last posted its quarterly earnings results on Friday, March 13th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.09). The business had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.84 million. CervoMed had a negative net margin of 672.80% and a negative return on equity of 85.98%. Research analysts predict that CervoMed will post -1.88 earnings per share for the current year.

Institutional Investors Weigh In On CervoMed

Large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new position in CervoMed in the 4th quarter worth about $81,000. State Street Corp boosted its position in shares of CervoMed by 11.4% during the 4th quarter. State Street Corp now owns 20,527 shares of the company’s stock valued at $162,000 after acquiring an additional 2,100 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of CervoMed during the 4th quarter valued at about $88,000. HRT Financial LP purchased a new position in shares of CervoMed during the fourth quarter worth about $113,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of CervoMed during the fourth quarter worth about $110,000. Institutional investors own 25.15% of the company’s stock.

CervoMed Company Profile

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.