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

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

A number of other research firms also recently weighed in on CRVO. Chardan Capital raised their price target on CervoMed from $15.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, March 18th. upgraded CervoMed to a “strong-buy” rating in a research note on Tuesday, February 3rd. HC Wainwright reiterated a “buy” rating and set a $25.00 target price on shares of CervoMed in a research note on Thursday, December 18th. Roth Mkm reduced their target price on CervoMed from $19.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Finally, Cantor Fitzgerald started coverage on CervoMed in a research note on Thursday, December 18th. They set an “overweight” rating for the company. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

CervoMed Stock Down 3.5%

CRVO stock opened at $3.84 on Wednesday. The business has a 50 day moving average price of $4.44 and a two-hundred day moving average price of $6.67. The company has a market cap of $35.56 million, a price-to-earnings ratio of -1.29 and a beta of -0.67. CervoMed has a twelve month low of $3.51 and a twelve month high of $13.13.

CervoMed (NASDAQ:CRVO) last posted its quarterly earnings results on Friday, March 13th. The company reported ($0.88) earnings per share 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 96.04%. On average, equities research analysts anticipate that CervoMed will post -1.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers boosted its stake in shares of CervoMed by 35.5% during the 1st quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock worth $53,000 after acquiring an additional 1,526 shares during the period. XTX Topco Ltd acquired a new stake in CervoMed during the 4th quarter worth approximately $81,000. Jane Street Group LLC acquired a new stake in CervoMed during the 4th quarter worth approximately $88,000. GSA Capital Partners LLP acquired a new stake in CervoMed during the 3rd quarter worth approximately $91,000. Finally, Marshall Wace LLP acquired a new stake in CervoMed during the 2nd quarter worth approximately $76,000. 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.