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

D. Boral Capital reiterated their buy rating on shares of CervoMed (NASDAQ:CRVO) in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has a $10.00 price target on the stock.

Several other equities analysts also recently weighed in on the company. Brookline Capital Management upgraded CervoMed from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. HC Wainwright lowered shares of CervoMed from a “buy” rating to a “neutral” rating in a report on Tuesday, December 17th. Canaccord Genuity Group boosted their target price on shares of CervoMed from $12.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. Roth Capital raised shares of CervoMed to a “strong-buy” rating in a research note on Thursday, December 5th. Finally, Roth Mkm lifted their price target on shares of CervoMed from $15.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.50.

CervoMed Price Performance

NASDAQ:CRVO opened at $9.48 on Wednesday. The firm has a market cap of $82.50 million, a PE ratio of -4.67 and a beta of 1.84. The firm has a 50 day simple moving average of $4.00 and a 200-day simple moving average of $7.64. CervoMed has a 1-year low of $1.80 and a 1-year high of $25.92.

CervoMed (NASDAQ:CRVO) last released its earnings results on Monday, March 17th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.13). CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%. The firm had revenue of $2.16 million during the quarter, compared to analysts’ expectations of $1.51 million. As a group, sell-side analysts expect that CervoMed will post -1.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CervoMed

Several large investors have recently made changes to their positions in CRVO. FMR LLC acquired a new position in shares of CervoMed during the 3rd quarter valued at $56,000. State Street Corp boosted its position in shares of CervoMed by 28.1% in the third quarter. State Street Corp now owns 104,456 shares of the company’s stock worth $1,525,000 after buying an additional 22,903 shares during the period. Barclays PLC raised its holdings in shares of CervoMed by 323.6% during 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 period. Geode Capital Management LLC raised its holdings in shares of CervoMed by 13.9% during the 3rd quarter. Geode Capital Management LLC now owns 114,934 shares of the company’s stock valued at $1,678,000 after buying an additional 14,042 shares during the period. Finally, Cornerstone Wealth Management LLC acquired a new position in CervoMed during the 4th quarter worth approximately $48,000. Institutional investors and hedge funds 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.