CervoMed (NASDAQ:CRVO) Given “Buy” Rating at D. Boral Capital

CervoMed (NASDAQ:CRVO)‘s stock had its “buy” rating reaffirmed by investment analysts at D. Boral Capital in a research note issued to investors on Monday,Benzinga reports. They presently have a $10.00 price target on the stock. D. Boral Capital’s price objective suggests a potential upside of 7.07% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Roth Capital raised CervoMed to a “strong-buy” rating in a research report on Thursday, December 5th. Brookline Capital Management raised CervoMed from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. HC Wainwright downgraded CervoMed from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 17th. Canaccord Genuity Group reduced their target price on shares of CervoMed from $65.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Finally, Roth Mkm increased their target price on shares of CervoMed from $7.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, CervoMed has a consensus rating of “Moderate Buy” and an average target price of $27.50.

CervoMed Stock Performance

CervoMed stock opened at $9.34 on Monday. The company’s fifty day simple moving average is $2.73 and its 200-day simple moving average is $7.87. CervoMed has a 12 month low of $1.80 and a 12 month high of $26.38.

CervoMed (NASDAQ:CRVO) last posted its quarterly earnings results on Monday, March 17th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.13). The company had revenue of $2.16 million for the quarter, compared to analysts’ expectations of $1.51 million. CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%. On average, analysts forecast that CervoMed will post -1.88 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in CervoMed during the fourth quarter worth about $26,000. DRW Securities LLC bought a new position in CervoMed during the fourth quarter worth about $30,000. Mariner LLC bought a new position in CervoMed during the fourth quarter worth about $30,000. BNP Paribas Financial Markets bought a new position in CervoMed during the fourth quarter worth about $32,000. Finally, JPMorgan Chase & Co. lifted its stake in CervoMed by 251.8% during 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 during the period. Institutional investors own 25.15% of the company’s stock.

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.