D. Boral Capital Reiterates “Buy” Rating for CervoMed (NASDAQ:CRVO)

CervoMed (NASDAQ:CRVO)‘s stock had its “buy” rating restated by stock analysts at D. Boral Capital in a report issued on Monday,Benzinga reports. They currently have a $10.00 target price on the stock. D. Boral Capital’s price target would indicate a potential upside of 7.07% from the stock’s current price.

Several other research firms have also commented on CRVO. HC Wainwright lowered CervoMed from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 17th. Jones Trading raised CervoMed from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Thursday, March 13th. Brookline Capital Management raised CervoMed from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Roth Capital raised CervoMed to a “strong-buy” rating in a research report on Thursday, December 5th. Finally, Roth Mkm lifted their target price on CervoMed from $7.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, CervoMed has a consensus rating of “Moderate Buy” and a consensus target price of $27.50.

CervoMed Trading Up 3.2 %

Shares of CervoMed stock opened at $9.34 on Monday. CervoMed has a twelve month low of $1.80 and a twelve month high of $26.38. The business’s fifty day moving average price is $2.73 and its 200 day moving average price is $7.87.

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

Hedge Funds Weigh In On CervoMed

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC bought a new position in shares of CervoMed in the third quarter valued at $56,000. Barclays PLC raised its stake in CervoMed by 323.6% during the 3rd quarter. Barclays PLC now owns 7,748 shares of the company’s stock valued at $113,000 after purchasing an additional 5,919 shares during the period. Virtu Financial LLC acquired a new stake in CervoMed during the 4th quarter valued at $26,000. DRW Securities LLC acquired a new stake in CervoMed during the 4th quarter valued at $30,000. Finally, Mariner LLC acquired a new stake in CervoMed during the 4th quarter valued at $30,000. 25.15% of the stock is currently owned by institutional investors and hedge funds.

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.