Roth Mkm Forecasts Strong Price Appreciation for CervoMed (NASDAQ:CRVO) Stock

CervoMed (NASDAQ:CRVO) had its price target hoisted by analysts at Roth Mkm from $15.00 to $20.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Roth Mkm’s price objective indicates a potential upside of 113.45% from the stock’s previous close.

CRVO has been the subject of a number of other reports. Jones Trading upgraded shares of CervoMed from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Thursday, March 13th. D. Boral Capital restated a “buy” rating and set a $10.00 price objective on shares of CervoMed in a research report on Monday. Brookline Capital Management upgraded shares of CervoMed from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Chardan Capital upgraded shares of CervoMed from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Thursday, March 13th. Finally, Roth Capital upgraded shares of CervoMed to a “strong-buy” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.50.

CervoMed Trading Up 0.3 %

CRVO opened at $9.37 on Tuesday. The firm has a fifty day moving average price of $2.87 and a 200 day moving average price of $7.88. CervoMed has a 1 year low of $1.80 and a 1 year high of $26.38.

CervoMed (NASDAQ:CRVO) last posted its earnings results on Monday, March 17th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, research analysts forecast that CervoMed will post -1.88 EPS for the current year.

Institutional Investors Weigh In On CervoMed

A number of hedge funds have recently modified their holdings of CRVO. Woodline Partners LP purchased a new stake in shares of CervoMed in the fourth quarter valued at about $175,000. Nuveen Asset Management LLC grew its holdings in shares of CervoMed by 113.6% in the fourth quarter. Nuveen Asset Management LLC now owns 41,569 shares of the company’s stock valued at $97,000 after purchasing an additional 22,104 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of CervoMed in the fourth quarter valued at about $32,000. Mariner LLC purchased a new stake in shares of CervoMed in the fourth quarter valued at about $30,000. Finally, DRW Securities LLC purchased a new stake in shares of CervoMed in the fourth quarter valued at about $30,000. 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.