Analysts Set CervoMed Inc. (NASDAQ:CRVO) Target Price at $19.29

CervoMed Inc. (NASDAQ:CRVO) has been given an average recommendation of “Moderate Buy” by the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $19.2857.

CRVO has been the topic of a number of research reports. D. Boral Capital boosted their target price on shares of CervoMed from $15.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, August 18th. Canaccord Genuity Group boosted their price objective on CervoMed from $21.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Chardan Capital restated a “buy” rating and set a $15.00 price objective on shares of CervoMed in a research report on Monday, August 11th. HC Wainwright restated a “neutral” rating and set a $11.00 price target on shares of CervoMed in a report on Monday, September 8th. Finally, Roth Capital restated a “buy” rating and set a $16.00 price target (down from $20.00) on shares of CervoMed in a report on Tuesday, August 12th.

Institutional Trading of CervoMed

Several institutional investors have recently modified their holdings of the business. Rhumbline Advisers grew its position in shares of CervoMed by 35.5% in the 1st quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock valued at $53,000 after buying an additional 1,526 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of CervoMed in the 1st quarter valued at about $104,000. Marshall Wace LLP bought a new stake in shares of CervoMed in the 2nd quarter valued at about $76,000. Bank of New York Mellon Corp bought a new stake in CervoMed in the first quarter valued at approximately $110,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of CervoMed in the 4th quarter valued at $32,000. Institutional investors own 25.15% of the company’s stock.

CervoMed Stock Down 3.6%

CervoMed stock opened at $7.82 on Tuesday. The stock has a market cap of $72.34 million, a PE ratio of -3.00 and a beta of -0.72. The business’s 50-day moving average price is $9.09 and its two-hundred day moving average price is $8.55. CervoMed has a 12-month low of $1.80 and a 12-month high of $16.94.

CervoMed (NASDAQ:CRVO) last announced its quarterly earnings results 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). The company had revenue of $1.76 million for the quarter, compared to the consensus estimate of $1.45 million. CervoMed had a negative net margin of 290.72% and a negative return on equity of 59.15%. As a group, analysts expect that CervoMed will post -1.88 earnings per share for the current 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.