Analysts Set CervoMed Inc. (NASDAQ:CRVO) Target Price at $42.00

CervoMed Inc. (NASDAQ:CRVO) has received an average recommendation of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $42.00.

A number of equities research analysts recently commented on the stock. Chardan Capital reissued a “neutral” rating on shares of CervoMed in a research report on Wednesday, December 11th. Morgan Stanley restated an “underweight” rating on shares of CervoMed in a research note on Wednesday, December 11th. Roth Capital upgraded shares of CervoMed to a “strong-buy” rating in a research note on Thursday, December 5th. HC Wainwright lowered shares of CervoMed from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 17th. Finally, D. Boral Capital restated a “hold” rating on shares of CervoMed in a research note on Tuesday, December 10th.

CervoMed Price Performance

NASDAQ:CRVO opened at $2.18 on Monday. CervoMed has a 52 week low of $1.80 and a 52 week high of $26.38. The firm has a 50 day moving average of $2.85 and a 200 day moving average of $9.90.

CervoMed (NASDAQ:CRVO) last posted its earnings results on Tuesday, November 12th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.14). CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%. The firm had revenue of $1.94 million for the quarter, compared to analysts’ expectations of $1.75 million. Equities research analysts anticipate that CervoMed will post -1.88 EPS for the current year.

Institutional Trading of CervoMed

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC acquired a new stake in shares of CervoMed in the third quarter worth $56,000. Barclays PLC increased its stake in shares of CervoMed by 323.6% in the third quarter. Barclays PLC now owns 7,748 shares of the company’s stock worth $113,000 after acquiring an additional 5,919 shares during the period. Virtu Financial LLC acquired a new stake in shares of CervoMed in the fourth quarter worth $26,000. JPMorgan Chase & Co. increased its stake in shares of CervoMed by 251.8% in the fourth quarter. JPMorgan Chase & Co. now owns 14,464 shares of the company’s stock worth $34,000 after acquiring an additional 10,352 shares during the period. Finally, Cornerstone Wealth Management LLC acquired a new stake in shares of CervoMed in the fourth quarter worth $48,000. 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.