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

CervoMed (NASDAQ:CRVO)‘s stock had its “buy” rating reaffirmed by analysts at D. Boral Capital in a research note issued on Wednesday,Benzinga reports. They currently have a $34.00 target price on the stock. D. Boral Capital’s price target indicates a potential upside of 326.07% from the company’s previous close.

Separately, Chardan Capital restated a “buy” rating and issued a $55.00 price objective on shares of CervoMed in a report on Thursday, November 14th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, CervoMed presently has a consensus rating of “Buy” and an average target price of $50.33.

CervoMed Stock Performance

Shares of CervoMed stock opened at $7.98 on Wednesday. The company’s 50 day moving average price is $12.96 and its two-hundred day moving average price is $15.73. CervoMed has a fifty-two week low of $5.85 and a fifty-two week high of $26.38.

CervoMed (NASDAQ:CRVO) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.14). CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%. The firm had revenue of $1.94 million for the quarter, compared to analyst estimates of $1.75 million. On average, research analysts anticipate that CervoMed will post -1.73 EPS for the current year.

Institutional Trading of CervoMed

Hedge funds have recently modified their holdings of the stock. FMR LLC acquired a new stake in CervoMed in the third quarter worth $56,000. Fred Alger Management LLC acquired a new stake in shares of CervoMed in the 2nd quarter valued at about $60,000. Rhumbline Advisers bought a new stake in CervoMed in the 2nd quarter valued at about $96,000. Barclays PLC raised its stake in CervoMed by 323.6% during the 3rd quarter. Barclays PLC now owns 7,748 shares of the company’s stock worth $113,000 after buying an additional 5,919 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in CervoMed in the second quarter worth approximately $236,000. Institutional investors own 25.15% of the company’s stock.

About CervoMed

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.