CervoMed (NASDAQ:CRVO) Receives Buy Rating from D. Boral Capital

D. Boral Capital reiterated their buy rating on shares of CervoMed (NASDAQ:CRVO) in a research report report published on Tuesday morning,Benzinga reports. They currently have a $31.00 target price on the stock.

A number of other equities analysts also recently commented on the stock. Chardan Capital restated a “buy” rating and set a $15.00 price objective on shares of CervoMed in a research note on Monday, August 11th. HC Wainwright upgraded CervoMed from a “neutral” rating to a “buy” rating and upped their target price for the stock from $11.00 to $25.00 in a report on Wednesday, November 5th. Roth Capital set a $20.00 price target on CervoMed and gave the company a “buy” rating in a research note on Friday, October 17th. Zacks Research lowered CervoMed from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of CervoMed in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $21.86.

CervoMed Stock Down 10.8%

Shares of CRVO opened at $8.22 on Tuesday. CervoMed has a twelve month low of $1.80 and a twelve month high of $16.94. The stock has a market capitalization of $76.04 million, a P/E ratio of -2.83 and a beta of -0.91. The company has a 50 day moving average of $7.97 and a 200-day moving average of $8.14.

CervoMed (NASDAQ:CRVO) last announced its quarterly earnings data on Friday, November 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.16). CervoMed had a negative return on equity of 76.78% and a negative net margin of 415.27%.The business had revenue of $0.32 million during the quarter, compared to the consensus estimate of $1.43 million. On average, sell-side analysts anticipate that CervoMed will post -1.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CervoMed news, Director Sylvie Gregoire purchased 10,807 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average price of $8.46 per share, for a total transaction of $91,427.22. Following the purchase, the director owned 12,500 shares in the company, valued at approximately $105,750. The trade was a 638.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John J. Alam purchased 10,807 shares of the business’s stock in a transaction on Monday, November 17th. The shares were acquired at an average cost of $8.46 per share, with a total value of $91,427.22. Following the acquisition, the chief executive officer directly owned 1,484,078 shares in the company, valued at approximately $12,555,299.88. The trade was a 0.73% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 92,000 shares of company stock valued at $737,723. 35.40% of the stock is owned by insiders.

Institutional Investors Weigh In On CervoMed

Several hedge funds have recently bought and sold shares of CRVO. AWM Investment Company Inc. bought a new stake in CervoMed in the 1st quarter valued at $7,898,000. Jane Street Group LLC bought a new position in CervoMed during the 2nd quarter worth $414,000. Nuveen LLC acquired a new stake in shares of CervoMed during the first quarter worth $312,000. Citadel Advisors LLC acquired a new stake in shares of CervoMed during the third quarter worth $247,000. Finally, Citizens Financial Group Inc. RI bought a new stake in shares of CervoMed in the first quarter valued at about $244,000. 25.15% of the stock is currently owned by institutional investors and hedge funds.

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.