CervoMed (NASDAQ:CRVO) Receives Buy Rating from D. Boral Capital

D. Boral Capital reiterated their buy rating on shares of CervoMed (NASDAQ:CRVO) in a report published on Wednesday,Benzinga reports. The firm currently has a $34.00 price objective on the stock.

Separately, Chardan Capital restated a “buy” rating and issued a $55.00 price target on shares of CervoMed in a research report on Thursday, November 14th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $50.33.

CervoMed Price Performance

NASDAQ CRVO opened at $9.16 on Wednesday. The firm has a 50-day moving average price of $12.83 and a two-hundred day moving average price of $15.68. CervoMed has a 12-month low of $5.85 and a 12-month high of $26.38.

CervoMed (NASDAQ:CRVO) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.14). The company 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%. On average, research analysts predict that CervoMed will post -1.73 EPS for the current year.

Hedge Funds Weigh In On CervoMed

A number of institutional investors have recently modified their holdings of the business. Citizens Financial Group Inc. RI acquired a new stake in CervoMed in the second quarter valued at about $461,000. State Street Corp boosted its stake in shares of CervoMed by 28.1% in the 3rd 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 in the last quarter. Geode Capital Management LLC grew its holdings 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 valued at $1,678,000 after purchasing an additional 14,042 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of CervoMed during the 2nd quarter valued at approximately $236,000. Finally, Barclays PLC increased its position in CervoMed by 323.6% during the 3rd quarter. Barclays PLC now owns 7,748 shares of the company’s stock worth $113,000 after purchasing an additional 5,919 shares in the last quarter. Institutional investors and hedge funds 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.