CervoMed (NASDAQ:CRVO) Stock Price Expected to Rise, Chardan Capital Analyst Says

CervoMed (NASDAQ:CRVO) had its price objective hoisted by stock analysts at Chardan Capital from $15.00 to $21.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Chardan Capital’s target price points to a potential upside of 363.58% from the company’s previous close.

Several other analysts have also commented on CRVO. HC Wainwright reissued a “buy” rating and set a $25.00 target price on shares of CervoMed in a research note on Thursday, December 18th. D. Boral Capital restated a “buy” rating and issued a $31.00 price target on shares of CervoMed in a research report on Monday. Cantor Fitzgerald initiated coverage on CervoMed in a report on Thursday, December 18th. They issued an “overweight” rating on the stock. Brookline Capital Acquisition upgraded CervoMed to a “strong-buy” rating in a research report on Tuesday, February 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of CervoMed in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.80.

CervoMed Trading Up 5.1%

Shares of CervoMed stock opened at $4.53 on Wednesday. CervoMed has a 52 week low of $3.58 and a 52 week high of $16.94. The stock has a market cap of $41.94 million, a PE ratio of -1.52 and a beta of -0.77. The company’s 50-day moving average price is $5.36 and its two-hundred day moving average price is $7.23.

CervoMed (NASDAQ:CRVO) last posted its quarterly earnings data on Friday, March 13th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.79) by ($0.09). The business had revenue of $0.01 million for 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 96.04%. On average, equities analysts predict that CervoMed will post -1.88 EPS for the current fiscal year.

Institutional Investors Weigh In On CervoMed

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in CervoMed by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 343,463 shares of the company’s stock worth $2,779,000 after purchasing an additional 3,445 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in CervoMed by 8,425,900.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 84,260 shares of the company’s stock valued at $666,000 after purchasing an additional 84,259 shares during the period. Jane Street Group LLC acquired a new stake in CervoMed during the 2nd quarter valued at $414,000. Citizens Financial Group Inc. RI lifted its holdings in shares of CervoMed by 23.0% in the fourth quarter. Citizens Financial Group Inc. RI now owns 37,477 shares of the company’s stock valued at $296,000 after purchasing an additional 7,000 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new stake in shares of CervoMed in the third quarter valued at $247,000. Institutional investors and hedge funds own 25.15% of the company’s stock.

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.