CervoMed Inc. (NASDAQ:CRVO) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of CervoMed Inc. (NASDAQ:CRVO) have earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $21.8571.

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group increased their price objective on CervoMed from $21.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. D. Boral Capital reaffirmed a “buy” rating and issued a $31.00 price objective on shares of CervoMed in a report on Tuesday. Chardan Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of CervoMed in a research note on Monday, August 11th. Roth Capital set a $20.00 price objective on CervoMed and gave the company a “buy” rating in a research note on Friday, October 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of CervoMed in a report on Wednesday, October 8th.

Institutional Trading of CervoMed

A number of hedge funds have recently bought and sold shares of the company. AWM Investment Company Inc. purchased a new position in shares of CervoMed during the 1st quarter worth $7,898,000. Vanguard Group Inc. increased its stake in CervoMed by 1.0% in the third quarter. Vanguard Group Inc. now owns 343,463 shares of the company’s stock valued at $2,779,000 after purchasing an additional 3,445 shares during the last quarter. Jane Street Group LLC purchased a new position in CervoMed during the second quarter worth about $414,000. Nuveen LLC acquired a new stake in CervoMed in the 1st quarter worth about $312,000. Finally, Citizens Financial Group Inc. RI grew its holdings in CervoMed by 14.2% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 30,477 shares of the company’s stock valued at $247,000 after buying an additional 3,800 shares during the period. Institutional investors and hedge funds own 25.15% of the company’s stock.

CervoMed Stock Up 1.0%

CRVO stock opened at $6.97 on Wednesday. The business has a 50 day moving average price of $8.06 and a 200 day moving average price of $8.18. CervoMed has a fifty-two week low of $1.80 and a fifty-two week high of $16.94. The stock has a market cap of $64.49 million, a price-to-earnings ratio of -2.67 and a beta of -0.89.

CervoMed (NASDAQ:CRVO) last posted its earnings results on Friday, November 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.16). CervoMed had a negative net margin of 290.72% and a negative return on equity of 59.15%. The company had revenue of $0.32 million during the quarter, compared to analysts’ expectations of $1.43 million. As a group, sell-side analysts anticipate 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.