CervoMed (NASDAQ:CRVO) Given “Buy” Rating at D. Boral Capital

D. Boral Capital reissued their buy rating on shares of CervoMed (NASDAQ:CRVO) in a report released on Tuesday,Benzinga reports. D. Boral Capital currently has a $31.00 price target on the stock.

A number of other equities analysts have also recently commented on CRVO. Canaccord Genuity Group lifted their price target on CervoMed from $21.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Zacks Research cut CervoMed from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Chardan Capital reaffirmed a “buy” rating and issued a $15.00 price target on shares of CervoMed in a research note on Monday, August 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CervoMed in a research note on Wednesday, October 8th. Finally, Roth Capital set a $20.00 price target on CervoMed and gave the stock a “buy” rating in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $19.86.

CervoMed Stock Performance

Shares of NASDAQ CRVO opened at $7.02 on Tuesday. The stock has a market cap of $64.96 million, a price-to-earnings ratio of -2.69 and a beta of -0.84. CervoMed has a 1-year low of $1.80 and a 1-year high of $16.94. The stock’s 50-day moving average is $8.31 and its 200 day moving average is $8.25.

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

Hedge Funds Weigh In On CervoMed

Hedge funds have recently made changes to their positions in the business. Rhumbline Advisers increased its stake in shares of CervoMed by 35.5% during the first 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 period. HighTower Advisors LLC purchased a new position in shares of CervoMed during the first quarter valued at approximately $104,000. Marshall Wace LLP purchased a new position in shares of CervoMed during the second quarter valued at approximately $76,000. Bank of New York Mellon Corp purchased a new position in shares of CervoMed during the first quarter valued at approximately $110,000. Finally, Thompson Davis & CO. Inc. purchased a new position in shares of CervoMed during the second quarter valued at approximately $88,000. 25.15% of the stock is owned by hedge funds and other 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.