CervoMed (NASDAQ:CRVO) Given “Hold” Rating at D. Boral Capital

CervoMed (NASDAQ:CRVO)‘s stock had its “hold” rating restated by investment analysts at D. Boral Capital in a research note issued to investors on Tuesday,Benzinga reports.

A number of other research firms have also recently issued reports on CRVO. Roth Mkm initiated coverage on CervoMed in a research report on Friday. They issued a “buy” rating and a $45.00 target price on the stock. Roth Capital raised CervoMed to a “strong-buy” rating in a research note on Thursday, December 5th. HC Wainwright began coverage on shares of CervoMed in a research note on Thursday, December 5th. They set a “buy” rating and a $42.00 target price for the company. Finally, Chardan Capital reiterated a “buy” rating and set a $55.00 price target on shares of CervoMed in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, CervoMed has an average rating of “Buy” and a consensus target price of $48.63.

CervoMed Trading Down 13.9 %

Shares of NASDAQ:CRVO opened at $10.25 on Tuesday. The company has a 50-day simple moving average of $11.99 and a 200 day simple moving average of $14.97. CervoMed has a 52-week low of $5.85 and a 52-week high of $26.38.

CervoMed (NASDAQ:CRVO) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.14). CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%. The company had revenue of $1.94 million for the quarter, compared to analyst estimates of $1.75 million. On average, equities research analysts anticipate that CervoMed will post -1.74 earnings per share for the current year.

Institutional Trading of CervoMed

Several institutional investors and hedge funds have recently made changes to their positions in the company. Fred Alger Management LLC bought a new stake in CervoMed during the second quarter worth $60,000. FMR LLC purchased a new stake in shares of CervoMed during the 3rd quarter valued at $56,000. Rhumbline Advisers bought a new stake in shares of CervoMed during the 2nd quarter worth $96,000. Barclays PLC boosted its holdings in shares of CervoMed by 323.6% in 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 last quarter. Finally, Bank of New York Mellon Corp bought a new position in CervoMed during the second quarter valued at about $236,000. Hedge funds and other 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.