CervoMed (NASDAQ:CRVO) Upgraded to “Buy” at D. Boral Capital

CervoMed (NASDAQ:CRVO) was upgraded by equities research analysts at D. Boral Capital from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a $10.00 price target on the stock. D. Boral Capital’s price target would suggest a potential upside of 329.18% from the company’s current price.

Several other research analysts have also issued reports on the company. Morgan Stanley reiterated an “underweight” rating on shares of CervoMed in a research note on Wednesday, December 11th. Chardan Capital restated a “neutral” rating on shares of CervoMed in a report on Wednesday, December 11th. HC Wainwright cut CervoMed from a “buy” rating to a “neutral” rating in a report on Tuesday, December 17th. Roth Capital upgraded CervoMed to a “strong-buy” rating in a report on Thursday, December 5th. Finally, Canaccord Genuity Group decreased their target price on CervoMed from $65.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, CervoMed currently has an average rating of “Moderate Buy” and a consensus price target of $37.43.

CervoMed Trading Up 1.3 %

CervoMed stock opened at $2.33 on Wednesday. The stock has a fifty day moving average price of $2.21 and a two-hundred day moving average price of $9.48. CervoMed has a 52-week low of $1.80 and a 52-week high of $26.38.

Hedge Funds Weigh In On CervoMed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI raised its position in shares of CervoMed by 13.2% during the third quarter. Citizens Financial Group Inc. RI now owns 30,509 shares of the company’s stock worth $445,000 after purchasing an additional 3,553 shares during the period. FMR LLC acquired a new stake in CervoMed in the 3rd quarter valued at approximately $56,000. Barclays PLC raised its position in CervoMed by 323.6% in the 3rd quarter. Barclays PLC now owns 7,748 shares of the company’s stock valued at $113,000 after buying an additional 5,919 shares during the last quarter. JPMorgan Chase & Co. raised its position in CervoMed by 251.8% in the 4th quarter. JPMorgan Chase & Co. now owns 14,464 shares of the company’s stock valued at $34,000 after buying an additional 10,352 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in CervoMed in the 4th quarter valued at approximately $26,000. 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.