CervoMed (NASDAQ:CRVO) Given “Buy” Rating at HC Wainwright

CervoMed (NASDAQ:CRVO)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $25.00 price target on the stock.

Other research analysts also recently issued research reports about the company. Roth Mkm cut their target price on CervoMed from $19.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Chardan Capital raised their target price on CervoMed from $15.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. D. Boral Capital reiterated a “buy” rating and set a $31.00 price target on shares of CervoMed in a research report on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of CervoMed in a research report on Monday. Finally, upgraded CervoMed to a “strong-buy” rating in a research report on Tuesday, February 3rd. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

CervoMed Stock Up 1.3%

Shares of NASDAQ CRVO opened at $3.94 on Thursday. CervoMed has a 52 week low of $3.51 and a 52 week high of $13.13. The business has a 50-day simple moving average of $4.21 and a two-hundred day simple moving average of $6.36. The company has a market cap of $36.48 million, a P/E ratio of -1.32 and a beta of -0.67.

CervoMed (NASDAQ:CRVO) last issued its earnings results on Friday, March 13th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.09). CervoMed had a negative return on equity of 96.04% and a negative net margin of 672.80%.The company had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.84 million. Equities research analysts anticipate that CervoMed will post -2.31 EPS for the current year.

Institutional Trading of CervoMed

Large investors have recently modified their holdings of the business. Rhumbline Advisers boosted its position in shares of CervoMed by 35.5% during the 1st quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock valued at $53,000 after acquiring an additional 1,526 shares during the last quarter. XTX Topco Ltd bought a new stake in CervoMed in the 4th quarter worth approximately $81,000. Jane Street Group LLC bought a new stake in CervoMed in the 4th quarter worth approximately $88,000. GSA Capital Partners LLP bought a new stake in CervoMed in the 3rd quarter worth approximately $91,000. Finally, Marshall Wace LLP bought a new stake in CervoMed in the 2nd quarter worth approximately $76,000. Institutional investors 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. The company also develops EIP200 for central nervous system which is in preclinical trials. CervoMed Inc was founded in 2010 and is headquartered in Boston, Massachusetts.