CervoMed Inc. (NASDAQ:CRVO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

CervoMed Inc. (NASDAQ:CRVO) has received an average rating of “Moderate Buy” from the nine analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $23.60.

CRVO has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 target price on shares of CervoMed in a research note on Thursday, December 18th. Chardan Capital reissued a “buy” rating and issued a $15.00 price target on shares of CervoMed in a report on Thursday, March 5th. Weiss Ratings restated a “sell (d-)” rating on shares of CervoMed in a research report on Wednesday, January 21st. D. Boral Capital reaffirmed a “buy” rating and set a $31.00 price objective on shares of CervoMed in a research note on Monday. Finally, Zacks Research upgraded CervoMed from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th.

Hedge Funds Weigh In On CervoMed

Several institutional investors have recently modified their holdings of CRVO. XTX Topco Ltd acquired a new position in shares of CervoMed in the 4th quarter valued at approximately $81,000. State Street Corp raised its holdings in CervoMed by 11.4% during the 4th quarter. State Street Corp now owns 20,527 shares of the company’s stock worth $162,000 after buying an additional 2,100 shares during the period. Jane Street Group LLC bought a new position in CervoMed in the fourth quarter valued at approximately $88,000. HRT Financial LP acquired a new position in shares of CervoMed in the fourth quarter valued at approximately $113,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of CervoMed in the fourth quarter valued at approximately $110,000. Institutional investors own 25.15% of the company’s stock.

CervoMed Trading Up 1.4%

Shares of CRVO opened at $4.31 on Tuesday. The stock has a market cap of $39.87 million, a P/E ratio of -1.45 and a beta of -0.77. CervoMed has a 1 year low of $3.58 and a 1 year high of $16.94. The stock’s 50-day moving average price is $5.42 and its two-hundred day moving average price is $7.27.

CervoMed (NASDAQ:CRVO) last announced 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 company 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%. As a group, equities analysts forecast that CervoMed will post -1.88 EPS for the current year.

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.