HC Wainwright Reiterates Buy Rating for CervoMed (NASDAQ:CRVO)

CervoMed (NASDAQ:CRVO)‘s stock had its “buy” rating reiterated by HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $25.00 target price on the stock.

Several other research analysts have also weighed in on the company. Zacks Research upgraded CervoMed from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of CervoMed in a report on Monday. D. Boral Capital reiterated a “buy” rating and set a $31.00 target price on shares of CervoMed in a report on Wednesday. upgraded CervoMed to a “strong-buy” rating in a report on Tuesday, February 3rd. Finally, Chardan Capital lifted their target price on CervoMed from $15.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $23.00.

CervoMed Stock Up 0.8%

Shares of CervoMed stock opened at $3.88 on Thursday. CervoMed has a 12 month low of $3.51 and a 12 month high of $13.13. The business has a fifty day simple moving average of $4.18 and a 200 day simple moving average of $6.31. The stock has a market cap of $35.93 million, a PE ratio of -1.30 and a beta of -0.67.

CervoMed (NASDAQ:CRVO) last posted 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). The business 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%. Analysts expect that CervoMed will post -2.31 EPS for the current fiscal year.

Institutional Trading of CervoMed

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of CervoMed by 1.0% in the third quarter. Vanguard Group Inc. now owns 343,463 shares of the company’s stock valued at $2,779,000 after purchasing an additional 3,445 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings 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 purchasing an additional 84,259 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of CervoMed in the second quarter valued at about $414,000. Citizens Financial Group Inc. RI lifted its holdings in shares of CervoMed by 23.0% in the fourth quarter. Citizens Financial Group Inc. RI now owns 37,477 shares of the company’s stock valued at $296,000 after purchasing an additional 7,000 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of CervoMed in the third quarter valued at about $247,000. 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.