CervoMed (NASDAQ:CRVO) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of CervoMed (NASDAQ:CRVO) in a research report released on Thursday,Benzinga reports. They currently have a $25.00 price target on the stock.

A number of other research firms have also commented on CRVO. Roth Mkm cut 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. Chardan Capital raised their price target on shares of CervoMed from $15.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Zacks Research upgraded shares of CervoMed from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. D. Boral Capital reaffirmed a “buy” rating and issued a $31.00 price objective on shares of CervoMed in a research note on Wednesday. Finally, upgraded shares of CervoMed to a “strong-buy” rating in a research report on Tuesday, February 3rd. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

CervoMed Stock Down 2.3%

Shares of NASDAQ:CRVO opened at $3.85 on Thursday. The firm has a market cap of $35.65 million, a P/E ratio of -1.29 and a beta of -0.67. CervoMed has a 12-month low of $3.51 and a 12-month high of $13.13. The business has a fifty day simple moving average of $4.19 and a 200 day simple moving average of $6.34.

CervoMed (NASDAQ:CRVO) last announced 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). The company had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.84 million. CervoMed had a negative return on equity of 96.04% and a negative net margin of 672.80%. As a group, equities research analysts expect that CervoMed will post -2.31 EPS for the current year.

Institutional Investors Weigh In On CervoMed

Hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC bought a new position in shares of CervoMed during the 1st quarter worth approximately $227,000. Rhumbline Advisers grew its position in shares of CervoMed by 35.5% during the 1st quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock worth $53,000 after buying an additional 1,526 shares during the period. Marshall Wace LLP bought a new stake in shares of CervoMed in the 2nd quarter valued at $76,000. Jane Street Group LLC acquired a new position in shares of CervoMed during the 2nd quarter valued at $414,000. Finally, Perigon Wealth Management LLC lifted its position in shares of CervoMed by 66.0% during the 3rd quarter. Perigon Wealth Management LLC now owns 28,731 shares of the company’s stock valued at $232,000 after acquiring an additional 11,425 shares during the period. 25.15% of the stock is currently owned by institutional investors.

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.