CervoMed (NASDAQ:CRVO) Price Target Raised to $15.00

CervoMed (NASDAQ:CRVO) had its price target upped by Chardan Capital from $14.00 to $15.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the company. Brookline Capital Management raised CervoMed from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 11th. Canaccord Genuity Group increased their price target on CervoMed from $12.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. Jones Trading raised CervoMed from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Thursday, March 13th. D. Boral Capital reaffirmed a “buy” rating and set a $10.00 target price on shares of CervoMed in a research note on Wednesday, March 26th. Finally, Roth Mkm raised their target price on CervoMed from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $27.63.

CervoMed Stock Performance

NASDAQ:CRVO opened at $8.32 on Monday. CervoMed has a 1 year low of $1.80 and a 1 year high of $25.67. The stock has a market cap of $72.41 million, a price-to-earnings ratio of -4.10 and a beta of -0.23. The business has a fifty day moving average of $9.02 and a 200-day moving average of $6.46.

CervoMed (NASDAQ:CRVO) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.04. CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%. The company had revenue of $1.92 million during the quarter, compared to analysts’ expectations of $1.70 million. On average, equities research analysts predict that CervoMed will post -1.88 EPS for the current year.

Hedge Funds Weigh In On CervoMed

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Woodline Partners LP acquired a new position in shares of CervoMed in the 4th quarter valued at $175,000. Perigon Wealth Management LLC acquired a new position in shares of CervoMed in the 4th quarter valued at $147,000. Nuveen Asset Management LLC boosted its position in shares of CervoMed by 113.6% in the 4th quarter. Nuveen Asset Management LLC now owns 41,569 shares of the company’s stock valued at $97,000 after purchasing an additional 22,104 shares during the period. Nuveen LLC acquired a new position in shares of CervoMed in the 1st quarter valued at $312,000. Finally, Citizens Financial Group Inc. RI acquired a new position in shares of CervoMed in the 1st quarter valued at $244,000. 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.