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

D. Boral Capital reissued their buy rating on shares of CervoMed (NASDAQ:CRVO) in a research report report published on Monday,Benzinga reports. The brokerage currently has a $10.00 price objective on the stock.

A number of other equities analysts have also weighed in on the stock. HC Wainwright lowered shares of CervoMed from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 17th. Morgan Stanley reiterated an “underweight” rating on shares of CervoMed in a research report on Wednesday, December 11th. Roth Capital upgraded shares of CervoMed to a “strong-buy” rating in a research report on Thursday, December 5th. Canaccord Genuity Group dropped their price target on shares of CervoMed from $65.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Finally, Jones Trading upgraded shares of CervoMed from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, CervoMed currently has an average rating of “Moderate Buy” and a consensus price target of $27.50.

CervoMed Stock Up 0.3 %

Shares of CRVO stock opened at $9.37 on Monday. CervoMed has a 12 month low of $1.80 and a 12 month high of $26.38. The company has a 50 day simple moving average of $2.87 and a two-hundred day simple moving average of $7.88.

CervoMed (NASDAQ:CRVO) last posted 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 the consensus estimate of $1.51 million. CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%. On average, research analysts expect that CervoMed will post -1.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CervoMed

A number of hedge funds have recently bought and sold shares of CRVO. Citizens Financial Group Inc. RI raised its stake in CervoMed by 13.2% during the third quarter. Citizens Financial Group Inc. RI now owns 30,509 shares of the company’s stock valued at $445,000 after purchasing an additional 3,553 shares in the last quarter. FMR LLC purchased a new stake in CervoMed during the third quarter valued at $56,000. State Street Corp raised its stake in CervoMed by 28.1% during 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 in the last quarter. Barclays PLC raised its stake in CervoMed by 323.6% during the third quarter. Barclays PLC now owns 7,748 shares of the company’s stock valued at $113,000 after purchasing an additional 5,919 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in CervoMed by 13.9% during the third 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 in the last quarter. Hedge funds and other institutional investors own 25.15% of the company’s stock.

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.