CervoMed’s (CRVO) Buy Rating Reiterated at D. Boral Capital

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

Separately, Chardan Capital reaffirmed a “buy” rating and issued a $55.00 target price on shares of CervoMed in a report on Thursday, November 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $50.33.

CervoMed Price Performance

NASDAQ CRVO opened at $10.80 on Wednesday. CervoMed has a twelve month low of $5.85 and a twelve month high of $26.38. The company’s 50-day simple moving average is $12.54 and its 200 day simple moving average is $15.54.

CervoMed (NASDAQ:CRVO) last posted its earnings results on Tuesday, November 12th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.14). CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%. The company had revenue of $1.94 million for the quarter, compared to the consensus estimate of $1.75 million. On average, equities research analysts forecast that CervoMed will post -1.73 EPS for the current year.

Hedge Funds Weigh In On CervoMed

Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its position in CervoMed by 5.2% in the 2nd quarter. Renaissance Technologies LLC now owns 32,333 shares of the company’s stock worth $554,000 after purchasing an additional 1,600 shares during the last quarter. Fred Alger Management LLC bought a new position in shares of CervoMed in the 2nd quarter valued at about $60,000. Citizens Financial Group Inc. RI grew its position in shares of CervoMed by 13.2% during the 3rd 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 bought a new stake in shares of CervoMed during the third quarter worth approximately $56,000. Finally, Rhumbline Advisers acquired a new position in CervoMed in the second quarter valued at approximately $96,000. 25.15% of the stock is owned by institutional investors.

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.