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

Shares of CervoMed Inc. (NASDAQ:CRVO) have earned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $27.50.

Several analysts recently commented on the company. Brookline Capital Management raised CervoMed from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 11th. HC Wainwright cut shares of CervoMed from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 17th. D. Boral Capital reiterated a “buy” rating and issued a $10.00 target price on shares of CervoMed in a research note on Wednesday, March 26th. Chardan Capital upgraded shares of CervoMed from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Thursday, March 13th. Finally, Roth Mkm lifted their price objective on shares of CervoMed from $15.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, March 18th.

CervoMed Price Performance

NASDAQ:CRVO opened at $11.08 on Tuesday. The company’s fifty day moving average price is $4.88 and its 200-day moving average price is $7.40. CervoMed has a 1-year low of $1.80 and a 1-year high of $25.92. The firm has a market capitalization of $96.43 million, a P/E ratio of -5.46 and a beta of 0.21.

CervoMed (NASDAQ:CRVO) last announced its quarterly earnings results on Monday, March 17th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.13). The company had revenue of $2.16 million for 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%. Equities analysts anticipate that CervoMed will post -1.88 EPS for the current fiscal year.

Institutional Trading of CervoMed

Several institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of CervoMed by 13.9% during the 3rd quarter. Geode Capital Management LLC now owns 114,934 shares of the company’s stock worth $1,678,000 after purchasing an additional 14,042 shares during the last quarter. State Street Corp boosted its stake in CervoMed by 28.1% during the 3rd quarter. State Street Corp now owns 104,456 shares of the company’s stock worth $1,525,000 after purchasing an additional 22,903 shares during the last quarter. Woodline Partners LP purchased a new stake in shares of CervoMed during the fourth quarter worth $175,000. Perigon Wealth Management LLC purchased a new stake in shares of CervoMed during the fourth quarter worth $147,000. Finally, Nuveen Asset Management LLC raised its position in shares of CervoMed by 113.6% in the fourth quarter. Nuveen Asset Management LLC now owns 41,569 shares of the company’s stock valued at $97,000 after buying an additional 22,104 shares during the last quarter. 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.