CervoMed (NASDAQ:CRVO) Price Target Raised to $31.00 at D. Boral Capital

CervoMed (NASDAQ:CRVO) had its price objective upped by D. Boral Capital from $15.00 to $31.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the stock.

CRVO has been the topic of several other research reports. Chardan Capital reiterated a “buy” rating and set a $15.00 price target on shares of CervoMed in a report on Monday, August 11th. Roth Capital set a $16.00 target price on shares of CervoMed and gave the stock a “buy” rating in a report on Tuesday, August 12th. Finally, Canaccord Genuity Group boosted their target price on shares of CervoMed from $21.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.71.

CervoMed Trading Down 2.9%

CRVO stock opened at $9.83 on Monday. CervoMed has a 1 year low of $1.80 and a 1 year high of $20.63. The company has a fifty day simple moving average of $7.78 and a 200 day simple moving average of $7.28. The firm has a market cap of $90.93 million, a PE ratio of -3.77 and a beta of -0.79.

CervoMed (NASDAQ:CRVO) last released its quarterly earnings data on Friday, August 8th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.13). CervoMed had a negative net margin of 290.72% and a negative return on equity of 59.15%. The business had revenue of $1.76 million during the quarter, compared to analyst estimates of $1.45 million. As a group, analysts forecast that CervoMed will post -1.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CRVO. AWM Investment Company Inc. acquired a new position in CervoMed during the 1st quarter worth $7,898,000. Woodline Partners LP bought a new position in shares of CervoMed during the 4th quarter worth about $175,000. Jane Street Group LLC bought a new position in shares of CervoMed during the 2nd quarter worth about $414,000. Nuveen LLC bought a new position in shares of CervoMed during the 1st quarter worth about $312,000. Finally, Citizens Financial Group Inc. RI bought a new position in shares of CervoMed during the 1st quarter worth about $244,000. Institutional investors and hedge funds own 25.15% of the company’s stock.

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.