CervoMed Inc. (NASDAQ:CRVO) Receives $27.50 Average Price Target from Analysts

Shares of CervoMed Inc. (NASDAQ:CRVO) have earned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $27.50.

Several research analysts recently weighed in on the stock. Roth Mkm boosted their price target on shares of CervoMed from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, March 18th. Jones Trading upgraded CervoMed from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Thursday, March 13th. Chardan Capital raised CervoMed from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Thursday, March 13th. D. Boral Capital reiterated a “buy” rating and set a $10.00 price target on shares of CervoMed in a report on Wednesday, March 26th. Finally, Morgan Stanley restated an “underweight” rating on shares of CervoMed in a research note on Wednesday, December 11th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Woodline Partners LP bought a new stake in CervoMed in the 4th quarter valued at about $175,000. Perigon Wealth Management LLC purchased a new position in shares of CervoMed in the fourth quarter worth about $147,000. State Street Corp raised its position in shares of CervoMed by 28.1% in 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 period. Nuveen Asset Management LLC lifted its stake in shares of CervoMed by 113.6% during 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 in the last quarter. Finally, Cornerstone Wealth Management LLC bought a new position in CervoMed in the 4th quarter worth approximately $48,000. Hedge funds and other institutional investors own 25.15% of the company’s stock.

CervoMed Stock Down 17.2 %

CRVO stock opened at $11.24 on Tuesday. The stock’s 50 day moving average is $4.70 and its 200-day moving average is $7.49. CervoMed has a twelve month low of $1.80 and a twelve month high of $25.92. The firm has a market capitalization of $97.82 million, a PE ratio of -5.54 and a beta of 1.84.

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

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.