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

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

Several other analysts have also issued reports on CRVO. HC Wainwright reiterated a “buy” rating and set a $25.00 price objective on shares of CervoMed in a report on Thursday, December 18th. Weiss Ratings restated a “sell (d-)” rating on shares of CervoMed in a research note on Wednesday, January 21st. Chardan Capital reaffirmed a “buy” rating and issued a $15.00 target price on shares of CervoMed in a research report on Thursday, March 5th. Cantor Fitzgerald started coverage on CervoMed in a research note on Thursday, December 18th. They set an “overweight” rating for the company. Finally, Zacks Research upgraded CervoMed from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.60.

CervoMed Stock Performance

CervoMed stock opened at $4.31 on Monday. CervoMed has a twelve month low of $3.58 and a twelve month high of $16.94. The firm has a market cap of $39.87 million, a PE ratio of -1.45 and a beta of -0.77. The firm’s 50 day moving average price is $5.42 and its two-hundred day moving average price is $7.27.

CervoMed (NASDAQ:CRVO) last issued its earnings results on Friday, March 13th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). CervoMed had a negative net margin of 672.80% and a negative return on equity of 85.98%. The company had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.84 million. Equities analysts anticipate that CervoMed will post -1.88 EPS for the current fiscal year.

Institutional Investors Weigh In On CervoMed

A number of large investors have recently bought and sold shares of CRVO. Rhumbline Advisers increased its position in CervoMed by 35.5% during the first quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock worth $53,000 after buying an additional 1,526 shares during the last quarter. State Street Corp lifted its position in shares of CervoMed by 11.4% in the fourth quarter. State Street Corp now owns 20,527 shares of the company’s stock worth $162,000 after buying an additional 2,100 shares during the last quarter. Thompson Davis & CO. Inc. boosted its stake in shares of CervoMed by 20.8% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 16,850 shares of the company’s stock worth $136,000 after acquiring an additional 2,900 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of CervoMed by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 343,463 shares of the company’s stock worth $2,779,000 after acquiring an additional 3,445 shares in the last quarter. Finally, Citizens Financial Group Inc. RI boosted its stake in shares of CervoMed by 14.2% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 30,477 shares of the company’s stock worth $247,000 after acquiring an additional 3,800 shares in the last quarter. 25.15% of the stock is currently owned by institutional investors.

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. The company also develops EIP200 for central nervous system which is in preclinical trials. CervoMed Inc was founded in 2010 and is headquartered in Boston, Massachusetts.