CervoMed (NASDAQ:CRVO) Price Target Cut to $11.00 by Analysts at Roth Mkm

CervoMed (NASDAQ:CRVO) had its price objective trimmed by Roth Mkm from $19.00 to $11.00 in a research note released on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts also recently commented on CRVO. D. Boral Capital reissued a “buy” rating and set a $31.00 price objective on shares of CervoMed in a report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of CervoMed in a research report on Wednesday, January 21st. Chardan Capital increased their price target on CervoMed from $15.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday. Zacks Research upgraded CervoMed from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Cantor Fitzgerald initiated coverage on CervoMed in a research note on Thursday, December 18th. They issued an “overweight” rating on the stock. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

CervoMed Price Performance

CervoMed stock opened at $4.24 on Wednesday. CervoMed has a 1 year low of $3.58 and a 1 year high of $16.94. The firm’s 50 day moving average price is $5.28 and its 200-day moving average price is $7.21. The stock has a market cap of $39.26 million, a P/E ratio of -1.42 and a beta of -0.77.

CervoMed (NASDAQ:CRVO) last issued its earnings results on Friday, March 13th. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). The company had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.84 million. CervoMed had a negative return on equity of 96.04% and a negative net margin of 672.80%. As a group, equities analysts expect that CervoMed will post -1.88 EPS for the current year.

Institutional Trading of CervoMed

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in CervoMed by 1.0% in the third quarter. Vanguard Group Inc. now owns 343,463 shares of the company’s stock worth $2,779,000 after buying an additional 3,445 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of CervoMed by 8,425,900.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 84,260 shares of the company’s stock valued at $666,000 after acquiring an additional 84,259 shares during the period. Jane Street Group LLC bought a new stake in shares of CervoMed in the 2nd quarter worth about $414,000. Citizens Financial Group Inc. RI lifted its holdings in shares of CervoMed by 23.0% in the 4th quarter. Citizens Financial Group Inc. RI now owns 37,477 shares of the company’s stock worth $296,000 after acquiring an additional 7,000 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new position in shares of CervoMed during the 3rd quarter worth about $247,000. Hedge funds and other institutional investors own 25.15% of the company’s stock.

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.