D. Boral Capital Reiterates Buy Rating for CervoMed (NASDAQ:CRVO)

CervoMed (NASDAQ:CRVO)‘s stock had its “buy” rating restated by equities research analysts at D. Boral Capital in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $31.00 price target on the stock. D. Boral Capital’s price target would suggest a potential upside of 318.35% from the stock’s current price.

Several other research firms have also weighed in on CRVO. Zacks Research lowered CervoMed from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CervoMed in a research note on Wednesday, October 8th. Canaccord Genuity Group increased their price objective on CervoMed from $21.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Roth Capital set a $20.00 price objective on CervoMed and gave the company a “buy” rating in a report on Friday, October 17th. Finally, Chardan Capital restated a “buy” rating and issued a $15.00 target price on shares of CervoMed in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $21.86.

CervoMed Stock Performance

Shares of CRVO stock opened at $7.41 on Tuesday. CervoMed has a 52-week low of $1.80 and a 52-week high of $16.94. The stock has a market cap of $68.56 million, a price-to-earnings ratio of -2.84 and a beta of -0.89. The firm has a fifty day moving average of $7.99 and a 200-day moving average of $8.18.

CervoMed (NASDAQ:CRVO) last issued its earnings results on Friday, November 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.16). The business had revenue of $0.32 million for the quarter, compared to analyst estimates of $1.43 million. CervoMed had a negative net margin of 290.72% and a negative return on equity of 59.15%. On average, sell-side analysts predict that CervoMed will post -1.88 earnings per share for the current year.

Institutional Investors Weigh In On CervoMed

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new position in shares of CervoMed in the first quarter worth about $110,000. Avantax Advisory Services Inc. bought a new position in CervoMed in the 1st quarter worth approximately $238,000. Citizens Financial Group Inc. RI acquired a new position in CervoMed during the 1st quarter worth $244,000. Nuveen LLC acquired a new position in CervoMed during the 1st quarter worth $312,000. Finally, HighTower Advisors LLC bought a new position in CervoMed in the 1st quarter valued at $104,000. Institutional investors own 25.15% of the company’s stock.

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.