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

CervoMed (NASDAQ:CRVO)‘s stock had its “buy” rating restated by investment analysts at D. Boral Capital in a research report issued on Wednesday,Benzinga reports. They currently have a $34.00 target price on the stock. D. Boral Capital’s target price suggests a potential upside of 271.38% from the company’s current price.

Separately, Chardan Capital reaffirmed a “buy” rating and issued a $55.00 price objective on shares of CervoMed in a research report on Thursday, November 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $50.33.

CervoMed Stock Up 14.7 %

CRVO opened at $9.16 on Wednesday. CervoMed has a 52 week low of $5.85 and a 52 week high of $26.38. The company has a fifty day moving average price of $12.66 and a two-hundred day moving average price of $15.63.

CervoMed (NASDAQ:CRVO) last issued its earnings results on Tuesday, November 12th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.14). The firm had revenue of $1.94 million during the quarter, compared to the consensus estimate of $1.75 million. CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%. As a group, research analysts predict that CervoMed will post -1.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CervoMed

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake 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 buying an additional 14,042 shares during the last quarter. State Street Corp boosted its position in CervoMed by 28.1% during the third quarter. State Street Corp now owns 104,456 shares of the company’s stock valued at $1,525,000 after purchasing an additional 22,903 shares during the last quarter. Renaissance Technologies LLC grew its stake in CervoMed by 5.2% in the second quarter. Renaissance Technologies LLC now owns 32,333 shares of the company’s stock valued at $554,000 after purchasing an additional 1,600 shares in the last quarter. Citizens Financial Group Inc. RI increased its position in shares of CervoMed by 13.2% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 30,509 shares of the company’s stock worth $445,000 after purchasing an additional 3,553 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of CervoMed during the 2nd quarter worth approximately $236,000. 25.15% of the stock is currently owned by institutional investors and hedge funds.

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.