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

CervoMed (NASDAQ:CRVO)‘s stock had its “buy” rating reaffirmed by analysts at D. Boral Capital in a research note issued to investors on Monday,Benzinga reports. They currently have a $10.00 price objective on the stock. D. Boral Capital’s price target points to a potential upside of 14.12% from the stock’s current price.

Several other brokerages also recently commented on CRVO. Canaccord Genuity Group dropped their price target on CervoMed from $65.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Morgan Stanley restated an “underweight” rating on shares of CervoMed in a research report on Wednesday, December 11th. Roth Capital raised CervoMed to a “strong-buy” rating in a research note on Thursday, December 5th. Brookline Capital Management raised CervoMed from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 11th. Finally, HC Wainwright lowered CervoMed from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.75.

CervoMed Stock Up 36.1 %

Shares of CervoMed stock traded up $2.32 on Monday, reaching $8.76. 5,931,997 shares of the company were exchanged, compared to its average volume of 4,763,955. The stock has a fifty day moving average price of $2.45 and a 200-day moving average price of $7.98. CervoMed has a fifty-two week low of $1.80 and a fifty-two week high of $26.38.

CervoMed (NASDAQ:CRVO) last posted its earnings results on Monday, March 17th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.13). CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%. Equities analysts anticipate that CervoMed will post -1.88 earnings per share for the current year.

Institutional Investors Weigh In On CervoMed

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC increased its holdings in shares of CervoMed by 323.6% in the third quarter. Barclays PLC now owns 7,748 shares of the company’s stock worth $113,000 after acquiring an additional 5,919 shares in the last quarter. Perigon Wealth Management LLC bought a new position in shares of CervoMed during the fourth quarter worth about $147,000. State Street Corp grew its holdings in shares of CervoMed by 28.1% during the third quarter. State Street Corp now owns 104,456 shares of the company’s stock worth $1,525,000 after buying 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 third quarter. Geode Capital Management LLC now owns 114,934 shares of the company’s stock worth $1,678,000 after buying an additional 14,042 shares in the last quarter. Finally, Citizens Financial Group Inc. RI grew its holdings in shares of 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 in the last quarter. 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.