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

D. Boral Capital restated their buy rating on shares of CervoMed (NASDAQ:CRVO) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $10.00 price objective on the stock.

Other equities analysts also recently issued research reports about the stock. Jones Trading upgraded shares of CervoMed from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Thursday, March 13th. Roth Mkm upped their price objective on shares of CervoMed from $15.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. Chardan Capital upped their price objective on shares of CervoMed from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, May 12th. Brookline Capital Management upgraded shares of CervoMed from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 11th. Finally, Canaccord Genuity Group upped their price objective on shares of CervoMed from $12.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, CervoMed currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.63.

CervoMed Stock Performance

Shares of CervoMed stock opened at $7.12 on Wednesday. The company has a market capitalization of $61.97 million, a PE ratio of -3.27 and a beta of -0.73. The company has a 50-day simple moving average of $8.64 and a two-hundred day simple moving average of $5.93. CervoMed has a one year low of $1.80 and a one year high of $22.57.

CervoMed (NASDAQ:CRVO) last announced its earnings results on Monday, May 12th. The company reported ($0.56) EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.04. The business had revenue of $1.92 million during the quarter, compared to the consensus estimate of $1.70 million. CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%. On average, equities analysts predict that CervoMed will post -1.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CervoMed

Several hedge funds and other institutional investors have recently bought and sold shares of CRVO. Virtu Financial LLC acquired a new position in CervoMed in the 4th quarter worth approximately $26,000. DRW Securities LLC acquired a new position in CervoMed in the 4th quarter worth approximately $30,000. Mariner LLC acquired a new position in CervoMed in the 4th quarter worth approximately $30,000. BNP Paribas Financial Markets acquired a new position in CervoMed in the 4th quarter worth approximately $32,000. Finally, JPMorgan Chase & Co. increased its holdings in CervoMed by 251.8% in the 4th quarter. JPMorgan Chase & Co. now owns 14,464 shares of the company’s stock worth $34,000 after buying an additional 10,352 shares during the period. Institutional investors and hedge funds 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.