Analysts Set CervoMed Inc. (NASDAQ:CRVO) Target Price at $22.60

Shares of CervoMed Inc. (NASDAQ:CRVO) have earned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $22.60.

A number of research firms have weighed in on CRVO. Chardan Capital raised their price objective on shares of CervoMed from $15.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, March 18th. HC Wainwright reiterated a “buy” rating and issued a $25.00 price target on shares of CervoMed in a research report on Thursday, April 23rd. Roth Mkm set a $9.00 price objective on shares of CervoMed in a research note on Monday, May 18th. D. Boral Capital reissued a “buy” rating and issued a $31.00 price target on shares of CervoMed in a report on Wednesday, April 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of CervoMed in a report on Monday, April 20th.

Institutional Trading of CervoMed

A number of institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers lifted its stake in CervoMed by 35.5% in the first quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock worth $53,000 after purchasing an additional 1,526 shares during the last quarter. Marshall Wace LLP purchased a new stake in CervoMed in the second quarter worth about $76,000. XTX Topco Ltd bought a new position in shares of CervoMed during the fourth quarter valued at approximately $81,000. Jane Street Group LLC purchased a new position in shares of CervoMed in the 4th quarter valued at $88,000. Finally, GSA Capital Partners LLP purchased a new position in CervoMed in the third quarter valued at about $91,000. 25.15% of the stock is currently owned by institutional investors.

CervoMed Trading Down 5.8%

Shares of CRVO stock opened at $2.94 on Friday. The company’s fifty day moving average price is $3.62 and its 200-day moving average price is $5.51. The stock has a market cap of $27.22 million, a PE ratio of -0.90 and a beta of -0.68. CervoMed has a 12 month low of $2.82 and a 12 month high of $13.13.

CervoMed (NASDAQ:CRVO) last issued its quarterly earnings results on Monday, May 18th. The company reported ($0.86) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.04. CervoMed had a negative net margin of 672.80% and a negative return on equity of 136.08%. On average, sell-side analysts forecast that CervoMed will post -2.86 earnings per share for the current fiscal year.

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.