CervoMed Inc. (NASDAQ:CRVO) Stock Has Consensus Price Target of $21.00

Shares of CervoMed Inc. (NASDAQ:CRVO) have been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $21.00.

A number of research analysts have commented on CRVO shares. Roth Capital set a $7.00 target price on shares of CervoMed in a research report on Thursday, August 20th. HC Wainwright reaffirmed a “buy” rating on shares of CervoMed in a research report on Monday, October 5th. Weiss Ratings downgraded shares of CervoMed from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, September 3rd. Wall Street Zen raised shares of CervoMed from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Chardan Capital raised shares of CervoMed to a “strong-buy” rating in a research note on Monday, August 3rd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. lifted its stake in shares of 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 worth $666,000 after purchasing an additional 84,259 shares during the last quarter. Renaissance Technologies LLC purchased a new position in CervoMed in the first quarter valued at about $252,000. BlackRock Inc. bought a new position in CervoMed in the second quarter worth about $167,000. Byrne Asset Management LLC raised its holdings in CervoMed by 248.6% in the second quarter. Byrne Asset Management LLC now owns 51,250 shares of the company’s stock worth $159,000 after purchasing an additional 36,550 shares in the last quarter. Finally, Citizens Financial Group Inc. RI bought a new position in CervoMed in the second quarter worth about $116,000. 25.15% of the stock is currently owned by hedge funds and other institutional investors.

CervoMed Trading Down 1.8%

Shares of CRVO stock opened at $3.22 on Friday. CervoMed has a twelve month low of $2.13 and a twelve month high of $10.00. The stock has a fifty day simple moving average of $2.72 and a two-hundred day simple moving average of $3.19. The stock has a market capitalization of $48.69 million, a price-to-earnings ratio of -1.00 and a beta of -0.75.

CervoMed (NASDAQ:CRVO) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.64) EPS for the quarter, beating the consensus estimate of ($0.86) by $0.22. Research analysts predict that CervoMed will post -2.38 EPS for the current fiscal year.

CervoMed Company Profile

CervoMed Inc (NASDAQ: CRVO) is a clinical-stage biopharmaceutical company focused on developing treatments for neurodegenerative diseases. The company’s research programs are aimed at addressing conditions involving cognitive impairment and other neurological dysfunction.

CervoMed’s lead investigational product is neflamapimod, an orally administered, selective inhibitor of the p38 alpha enzyme. The company is evaluating neflamapimod as a potential treatment for dementia with Lewy bodies, a progressive neurodegenerative disorder associated with cognitive, behavioral and movement-related symptoms.