CervoMed (NASDAQ:CRVO) Receives “Buy” Rating from D. Boral Capital

CervoMed (NASDAQ:CRVO)‘s stock had its “buy” rating reaffirmed by stock analysts at D. Boral Capital in a research report issued on Monday,Benzinga reports. They presently have a $10.00 price objective on the stock. D. Boral Capital’s target price indicates a potential upside of 14.12% from the company’s current price.

Other equities analysts have also issued research reports about the company. Roth Capital upgraded CervoMed to a “strong-buy” rating in a research note on Thursday, December 5th. Brookline Capital Management upgraded CervoMed from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 11th. Roth Mkm raised their price objective on CervoMed from $7.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. Morgan Stanley reiterated an “underweight” rating on shares of CervoMed in a research note on Wednesday, December 11th. Finally, Chardan Capital upgraded CervoMed from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.75.

CervoMed Stock Performance

Shares of CRVO traded up $2.32 during mid-day trading on Monday, reaching $8.76. The company’s stock had a trading volume of 5,931,997 shares, compared to its average volume of 4,763,955. CervoMed has a 1-year low of $1.80 and a 1-year high of $26.38. The business has a 50-day simple moving average of $2.45 and a two-hundred day simple moving average of $7.98.

CervoMed (NASDAQ:CRVO) last released its quarterly earnings data on Monday, March 17th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.13). CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%. On average, equities research analysts expect that CervoMed will post -1.88 earnings per share for the current year.

Institutional Trading of CervoMed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRVO. Woodline Partners LP bought a new stake in CervoMed in the 4th quarter valued at about $175,000. Perigon Wealth Management LLC bought a new stake in CervoMed during the 4th quarter worth approximately $147,000. State Street Corp increased its holdings in CervoMed by 28.1% during the 3rd quarter. State Street Corp now owns 104,456 shares of the company’s stock worth $1,525,000 after purchasing an additional 22,903 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of CervoMed by 113.6% in the 4th quarter. Nuveen Asset Management LLC now owns 41,569 shares of the company’s stock worth $97,000 after buying an additional 22,104 shares during the last quarter. Finally, Cornerstone Wealth Management LLC purchased a new position in shares of CervoMed in the 4th quarter worth approximately $48,000. 25.15% of the stock is owned by institutional investors.

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.