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

CervoMed (NASDAQ:CRVO)‘s stock had its “buy” rating restated by equities research analysts at D. Boral Capital in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $10.00 price objective on the stock. D. Boral Capital’s target price indicates a potential upside of 17.65% from the company’s current price.

Several other equities analysts have also issued reports on CRVO. HC Wainwright lowered shares of CervoMed from a “buy” rating to a “neutral” rating in a report on Tuesday, December 17th. 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 report on Tuesday, March 18th. Morgan Stanley reiterated an “underweight” rating on shares of CervoMed in a report on Wednesday, December 11th. Finally, Chardan Capital raised CervoMed from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Thursday, March 13th. 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 given a strong buy rating to the stock. According to data from MarketBeat, CervoMed currently has an average rating of “Moderate Buy” and a consensus price target of $27.50.

CervoMed Trading Up 10.2 %

NASDAQ:CRVO opened at $8.50 on Wednesday. CervoMed has a 1-year low of $1.80 and a 1-year high of $25.92. The firm has a market capitalization of $73.98 million, a price-to-earnings ratio of -4.19 and a beta of 1.84. The business’s 50-day moving average price is $3.85 and its two-hundred day moving average price is $7.69.

CervoMed (NASDAQ:CRVO) last announced its quarterly 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). The firm had revenue of $2.16 million during the quarter, compared to analyst estimates of $1.51 million. CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%. Sell-side analysts predict that CervoMed will post -1.88 earnings per share for the current year.

Hedge Funds Weigh In On CervoMed

Several hedge funds have recently made changes to their positions in the business. Woodline Partners LP bought a new stake in shares of CervoMed in the fourth quarter worth $175,000. Nuveen Asset Management LLC increased its stake in 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 buying an additional 22,104 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in CervoMed during the 4th quarter worth about $32,000. Mariner LLC acquired a new position in shares of CervoMed during the 4th quarter worth about $30,000. Finally, DRW Securities LLC bought a new position in shares of CervoMed in the 4th quarter valued at about $30,000. 25.15% of the stock is owned by institutional investors.

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.