Brokerages Set CervoMed Inc. (NASDAQ:CRVO) PT at $27.63

CervoMed Inc. (NASDAQ:CRVO) has earned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $27.63.

Several equities analysts have issued reports on CRVO shares. 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 research note on Tuesday, March 18th. Chardan Capital raised their price objective on shares of CervoMed from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Jones Trading upgraded shares of CervoMed from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Thursday, March 13th. Brookline Capital Management upgraded shares of CervoMed from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Finally, Canaccord Genuity Group raised their price objective on shares of CervoMed from $12.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CRVO. Virtu Financial LLC purchased a new position in CervoMed in the fourth quarter valued at about $26,000. JPMorgan Chase & Co. increased its holdings in CervoMed by 251.8% in the fourth 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 in the last quarter. DRW Securities LLC purchased a new position in shares of CervoMed during the 4th quarter worth approximately $30,000. Mariner LLC purchased a new position in shares of CervoMed during the 4th quarter worth approximately $30,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of CervoMed during the 4th quarter worth approximately $32,000. 25.15% of the stock is owned by hedge funds and other institutional investors.

CervoMed Trading Down 1.0%

Shares of CRVO stock opened at $6.99 on Friday. The firm has a fifty day moving average price of $8.51 and a 200 day moving average price of $5.85. The company has a market cap of $60.81 million, a P/E ratio of -3.21 and a beta of -0.73. CervoMed has a 12 month low of $1.80 and a 12 month high of $22.57.

CervoMed (NASDAQ:CRVO) last issued 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 firm 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 200.57% and a negative return on equity of 44.07%. On average, equities analysts forecast that CervoMed will post -1.88 EPS for the current year.

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.