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

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

Several other research analysts also recently issued reports on CRVO. Weiss Ratings reiterated a “sell (d-)” rating on shares of CervoMed in a research note on Monday. Roth Mkm dropped their target price on shares of CervoMed from $19.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. upgraded shares of CervoMed to a “strong-buy” rating in a research note on Tuesday, February 3rd. Chardan Capital upped their target price on shares of CervoMed from $15.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Finally, Zacks Research upgraded shares of CervoMed from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

CervoMed Stock Performance

Shares of NASDAQ CRVO opened at $3.94 on Wednesday. The firm’s 50 day moving average price is $4.21 and its 200-day moving average price is $6.36. The company has a market cap of $36.48 million, a PE ratio of -1.32 and a beta of -0.67. CervoMed has a 52-week low of $3.51 and a 52-week high of $13.13.

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 the consensus estimate of ($0.79) by ($0.09). The firm had revenue of $0.01 million during 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%. On average, analysts forecast that CervoMed will post -2.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRVO. Rhumbline Advisers lifted its position in CervoMed by 35.5% during the first quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock valued at $53,000 after purchasing an additional 1,526 shares during the period. Marshall Wace LLP bought a new position in CervoMed during the second quarter valued at approximately $76,000. XTX Topco Ltd bought a new position in CervoMed during the fourth quarter valued at approximately $81,000. Jane Street Group LLC bought a new position in CervoMed during the fourth quarter valued at approximately $88,000. Finally, GSA Capital Partners LLP bought a new position in CervoMed during the third quarter valued at approximately $91,000. 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.