CervoMed’s (CRVO) Buy Rating Reiterated at D. Boral Capital

D. Boral Capital reaffirmed their buy rating on shares of CervoMed (NASDAQ:CRVO) in a research report released on Wednesday,Benzinga reports. They currently have a $10.00 price target on the stock.

A number of other analysts have also issued reports on CRVO. Chardan Capital boosted their target price on shares of CervoMed from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Jones Trading raised shares of 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. Brookline Capital Management raised shares of CervoMed from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 11th. Canaccord Genuity Group boosted their target price on shares of CervoMed from $12.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. Finally, Roth Mkm boosted their target price on shares of CervoMed from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. One 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 stock. Based on data from MarketBeat.com, CervoMed has an average rating of “Moderate Buy” and an average price target of $27.63.

CervoMed Stock Down 6.6%

NASDAQ CRVO opened at $7.12 on Wednesday. The company has a fifty day moving average of $8.64 and a two-hundred day moving average of $5.93. The firm has a market capitalization of $61.97 million, a price-to-earnings ratio of -3.27 and a beta of -0.73. CervoMed has a 52 week low of $1.80 and a 52 week high of $22.57.

CervoMed (NASDAQ:CRVO) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.60) by $0.04. The company had revenue of $1.92 million during the quarter, compared to analyst estimates of $1.70 million. CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%. Equities research analysts anticipate that CervoMed will post -1.88 EPS for the current year.

Institutional Trading of CervoMed

A number of hedge funds have recently added to or reduced their stakes in CRVO. Virtu Financial LLC purchased a new stake in CervoMed in the fourth quarter worth about $26,000. DRW Securities LLC bought a new position in CervoMed in the fourth quarter worth about $30,000. Mariner LLC bought a new position in CervoMed in the fourth quarter worth about $30,000. BNP Paribas Financial Markets bought a new position in CervoMed in the fourth quarter worth about $32,000. Finally, JPMorgan Chase & Co. raised its holdings in 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 purchasing an additional 10,352 shares in the last quarter. 25.15% of the stock is owned by hedge funds and other institutional investors.

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.