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

CervoMed Inc. (NASDAQ:CRVO) has been given an average recommendation of “Moderate Buy” by the eight research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $23.00.

Several research firms have recently commented on CRVO. upgraded shares of CervoMed to a “strong-buy” rating in a report on Tuesday, February 3rd. Zacks Research upgraded CervoMed from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of CervoMed in a research report on Wednesday, January 21st. Roth Mkm lowered their target price on CervoMed from $19.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $31.00 target price on shares of CervoMed in a research report on Monday, March 16th.

Hedge Funds Weigh In On CervoMed

A number of hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its position in CervoMed by 35.5% during the first quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock valued at $53,000 after acquiring an additional 1,526 shares in the last quarter. XTX Topco Ltd bought a new stake in CervoMed in the fourth quarter worth approximately $81,000. Jane Street Group LLC acquired a new position in shares of CervoMed during the 4th quarter worth $88,000. GSA Capital Partners LLP acquired a new position in shares of CervoMed during the 3rd quarter worth $91,000. Finally, Marshall Wace LLP bought a new position in shares of CervoMed during the 2nd quarter valued at $76,000. Institutional investors and hedge funds own 25.15% of the company’s stock.

CervoMed Stock Performance

CRVO stock opened at $4.02 on Tuesday. The firm has a 50 day simple moving average of $5.06 and a 200 day simple moving average of $7.06. CervoMed has a 52 week low of $3.58 and a 52 week high of $14.97. The stock has a market cap of $37.23 million, a P/E ratio of -1.35 and a beta of -0.77.

CervoMed (NASDAQ:CRVO) last released 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). CervoMed had a negative net margin of 672.80% and a negative return on equity of 96.04%. The company had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.84 million. Sell-side analysts predict 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.