CervoMed (NASDAQ:CRVO) Now Covered by Brookline Capital Management

Research analysts at Brookline Capital Management assumed coverage on shares of CervoMed (NASDAQ:CRVO) in a research report issued on Monday, MarketBeat.com reports. The firm set a “buy” rating and a $63.00 price target on the stock. Brookline Capital Management’s price objective would indicate a potential upside of 312.57% from the stock’s previous close.

Separately, Canaccord Genuity Group raised their price target on CervoMed from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 8th.

CervoMed Trading Down 1.2 %

CRVO stock opened at $15.27 on Monday. CervoMed has a fifty-two week low of $4.26 and a fifty-two week high of $26.38. The business’s fifty day moving average price is $20.06 and its two-hundred day moving average price is $17.11.

CervoMed (NASDAQ:CRVO) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.05. The company had revenue of $2.35 million during the quarter, compared to the consensus estimate of $2.00 million. Equities analysts predict that CervoMed will post -1.34 EPS for the current fiscal year.

Institutional Trading of CervoMed

Several large investors have recently bought and sold shares of CRVO. Adage Capital Partners GP L.L.C. acquired a new stake in CervoMed in the third quarter valued at about $921,000. CWM LLC acquired a new stake in CervoMed in the fourth quarter valued at about $292,000. Crown Advisors Management Inc. acquired a new stake in CervoMed in the first quarter valued at about $2,330,000. Ikarian Capital LLC acquired a new stake in CervoMed in the first quarter valued at about $5,530,000. Finally, RA Capital Management L.P. acquired a new stake in CervoMed in the first quarter valued at about $20,075,000. 25.15% of the stock is 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.