D. Boral Capital Reaffirms Buy Rating for CervoMed (NASDAQ:CRVO)

CervoMed (NASDAQ:CRVO)‘s stock had its “buy” rating reiterated by analysts at D. Boral Capital in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $31.00 price target on the stock.

A number of other analysts have also recently weighed in on CRVO. Zacks Research raised shares of CervoMed from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings restated a “sell (d-)” rating on shares of CervoMed in a research note on Monday. raised CervoMed to a “strong-buy” rating in a report on Tuesday, February 3rd. Roth Mkm lowered their price objective on CervoMed from $19.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Finally, Chardan Capital raised their target price on CervoMed from $15.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

CervoMed Price Performance

Shares of CRVO traded up $0.05 on Wednesday, reaching $3.94. 49,723 shares of the stock traded hands, compared to its average volume of 76,470. The stock’s 50-day moving average price is $4.22 and its 200-day moving average price is $6.38. The firm has a market cap of $36.50 million, a price-to-earnings ratio of -1.32 and a beta of -0.67. CervoMed has a 12 month low of $3.51 and a 12 month high of $13.13.

CervoMed (NASDAQ:CRVO) last issued its earnings results on Friday, March 13th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.09). CervoMed had a negative return on equity of 96.04% and a negative net margin of 672.80%.The firm had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.84 million. As a group, equities research analysts forecast that CervoMed will post -2.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CervoMed

A number of hedge funds and other institutional investors have recently bought and sold shares of CRVO. Vanguard Group Inc. boosted its stake in CervoMed by 1.0% in the third quarter. Vanguard Group Inc. now owns 343,463 shares of the company’s stock worth $2,779,000 after purchasing an additional 3,445 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of CervoMed by 8,425,900.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 84,260 shares of the company’s stock worth $666,000 after acquiring an additional 84,259 shares during the last quarter. Jane Street Group LLC bought a new position in shares of CervoMed in the second quarter worth about $414,000. Citizens Financial Group Inc. RI lifted its position in shares of CervoMed by 23.0% during the fourth quarter. Citizens Financial Group Inc. RI now owns 37,477 shares of the company’s stock worth $296,000 after purchasing an additional 7,000 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in shares of CervoMed during the third quarter worth approximately $247,000. 25.15% of the stock is owned by institutional investors and hedge funds.

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. The company also develops EIP200 for central nervous system which is in preclinical trials. CervoMed Inc was founded in 2010 and is headquartered in Boston, Massachusetts.