CervoMed (NASDAQ:CRVO) Price Target Raised to $20.00

CervoMed (NASDAQ:CRVO) had its target price upped by Roth Mkm from $15.00 to $20.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also issued reports on CRVO. Canaccord Genuity Group increased their price target on CervoMed from $12.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday. Chardan Capital raised CervoMed from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Thursday, March 13th. D. Boral Capital reaffirmed a “buy” rating and issued a $10.00 price target on shares of CervoMed in a research report on Monday. Brookline Capital Management raised CervoMed from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of CervoMed in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $27.50.

CervoMed Trading Up 23.4 %

CRVO opened at $11.56 on Tuesday. The stock’s 50-day moving average price is $3.06 and its 200 day moving average price is $7.90. CervoMed has a 12-month low of $1.80 and a 12-month high of $25.92. The firm has a market cap of $71.33 million, a price-to-earnings ratio of -5.69 and a beta of 1.84.

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 for the quarter, compared to analyst estimates 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 forecast that CervoMed will post -1.88 earnings per share for the current year.

Institutional Investors Weigh In On CervoMed

Several institutional investors have recently added to or reduced their stakes in CRVO. Citizens Financial Group Inc. RI increased its position in CervoMed by 13.2% during the third quarter. Citizens Financial Group Inc. RI now owns 30,509 shares of the company’s stock worth $445,000 after buying an additional 3,553 shares during the period. FMR LLC acquired a new position in CervoMed during the third quarter worth approximately $56,000. Barclays PLC increased its position in CervoMed by 323.6% during the third quarter. Barclays PLC now owns 7,748 shares of the company’s stock worth $113,000 after buying an additional 5,919 shares during the period. JPMorgan Chase & Co. increased its position 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 buying an additional 10,352 shares during the period. Finally, Virtu Financial LLC acquired a new position in CervoMed during the fourth quarter worth approximately $26,000. Hedge funds and other 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.