CervoMed’s (CRVO) Buy Rating Reaffirmed at D. Boral Capital

D. Boral Capital reaffirmed their buy rating on shares of CervoMed (NASDAQ:CRVO) in a research report sent to investors on Wednesday morning,Benzinga reports. D. Boral Capital currently has a $31.00 price objective on the stock.

Several other research firms have also commented on CRVO. raised CervoMed to a “strong-buy” rating in a research report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CervoMed in a research report on Wednesday, January 21st. Chardan Capital lifted their price target on CervoMed from $15.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Cantor Fitzgerald assumed coverage on shares of CervoMed in a research report on Thursday, December 18th. They set an “overweight” rating on the stock. Finally, Roth Mkm lowered their price objective on shares of CervoMed from $19.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

CervoMed Stock Performance

Shares of NASDAQ CRVO opened at $4.04 on Wednesday. CervoMed has a fifty-two week low of $3.51 and a fifty-two week high of $13.13. The firm has a market capitalization of $37.41 million, a PE ratio of -1.36 and a beta of -0.67. The stock’s 50-day simple moving average is $4.41 and its 200-day simple moving average is $6.65.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CRVO. AQR Capital Management LLC acquired a new position in CervoMed during the first quarter worth $227,000. Rhumbline Advisers grew its holdings 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 acquiring an additional 1,526 shares during the period. Marshall Wace LLP acquired a new position in CervoMed during the second quarter worth $76,000. Jane Street Group LLC acquired a new position in CervoMed during the second quarter worth $414,000. Finally, Perigon Wealth Management LLC grew its holdings in CervoMed by 66.0% during the third quarter. Perigon Wealth Management LLC now owns 28,731 shares of the company’s stock worth $232,000 after acquiring an additional 11,425 shares during the period. Institutional investors and hedge funds 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.