CervoMed (NASDAQ:CRVO) Price Target Raised to $21.00 at Chardan Capital

CervoMed (NASDAQ:CRVO) had its price target upped by Chardan Capital from $15.00 to $21.00 in a report issued on Wednesday,Benzinga reports. Chardan Capital currently has a buy rating on the stock.

A number of other brokerages have also issued reports on CRVO. Weiss Ratings reiterated a “sell (d-)” rating on shares of CervoMed in a report on Wednesday, January 21st. upgraded CervoMed to a “strong-buy” rating in a report on Tuesday, February 3rd. D. Boral Capital reaffirmed a “buy” rating and set a $31.00 target price on shares of CervoMed in a research report on Monday. Zacks Research upgraded CervoMed from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, HC Wainwright reissued a “buy” rating and set a $25.00 price target on shares of CervoMed in a research report on Thursday, December 18th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, CervoMed has an average rating of “Moderate Buy” and an average target price of $23.00.

CervoMed Price Performance

Shares of CRVO opened at $4.24 on Wednesday. The firm has a market capitalization of $39.26 million, a price-to-earnings ratio of -1.42 and a beta of -0.77. CervoMed has a 1-year low of $3.58 and a 1-year high of $16.94. The company has a 50-day moving average of $5.28 and a 200 day moving average of $7.21.

CervoMed (NASDAQ:CRVO) last issued its earnings results on Friday, March 13th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). The company 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, equities analysts anticipate that CervoMed will post -1.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CervoMed

Several institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC bought a new position in CervoMed in the first quarter worth approximately $227,000. Rhumbline Advisers lifted 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 buying an additional 1,526 shares during the period. Marshall Wace LLP bought a new stake in CervoMed during the 2nd quarter valued at $76,000. Jane Street Group LLC purchased a new position in shares of CervoMed in the 2nd quarter valued at $414,000. Finally, Perigon Wealth Management LLC increased its holdings in shares of CervoMed by 66.0% in the 3rd quarter. Perigon Wealth Management LLC now owns 28,731 shares of the company’s stock valued at $232,000 after acquiring an additional 11,425 shares during the period. 25.15% of the stock is owned by hedge funds and other 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.