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

CervoMed (NASDAQ:CRVO)‘s stock had its “buy” rating reaffirmed by equities researchers at D. Boral Capital in a research note issued on Wednesday,Benzinga reports. They currently have a $10.00 target price on the stock. D. Boral Capital’s target price would indicate a potential upside of 17.65% from the company’s previous close.

Several other analysts have also commented on CRVO. Chardan Capital raised CervoMed from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Thursday, March 13th. Canaccord Genuity Group increased their target price on shares of CervoMed from $12.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. Roth Capital raised shares of CervoMed to a “strong-buy” rating in a report on Thursday, December 5th. Morgan Stanley reaffirmed an “underweight” rating on shares of CervoMed in a research note on Wednesday, December 11th. Finally, HC Wainwright cut shares of CervoMed from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, CervoMed has a consensus rating of “Moderate Buy” and an average target price of $27.50.

CervoMed Stock Performance

Shares of CRVO stock opened at $8.50 on Wednesday. The firm has a fifty day moving average of $3.85 and a 200-day moving average of $7.69. The stock has a market cap of $73.98 million, a price-to-earnings ratio of -4.19 and a beta of 1.84. CervoMed has a 52-week low of $1.80 and a 52-week high of $25.92.

CervoMed (NASDAQ:CRVO) last posted its quarterly earnings results on Monday, March 17th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.13). The business had revenue of $2.16 million during the quarter, compared to analyst estimates of $1.51 million. CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%. On average, sell-side analysts predict that CervoMed will post -1.88 earnings per share for the current year.

Institutional Trading of CervoMed

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC bought a new position in CervoMed in the 3rd quarter valued at $56,000. Barclays PLC boosted its holdings in CervoMed by 323.6% in the third quarter. Barclays PLC now owns 7,748 shares of the company’s stock valued at $113,000 after acquiring an additional 5,919 shares during the last quarter. Virtu Financial LLC acquired a new stake in CervoMed in the fourth quarter worth about $26,000. DRW Securities LLC bought a new stake in CervoMed during the 4th quarter worth about $30,000. Finally, Mariner LLC acquired a new position in CervoMed during the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 25.15% of the company’s stock.

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.