CervoMed Inc. (NASDAQ:CRVO - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the nine research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $27.63.
A number of equities research analysts have recently issued reports on CRVO shares. D. Boral Capital reaffirmed a "buy" rating and issued a $10.00 target price on shares of CervoMed in a report on Tuesday, May 13th. Jones Trading raised CervoMed from a "hold" rating to a "buy" rating and set a $15.00 price target on the stock in a research report on Thursday, March 13th. Chardan Capital raised their price objective on CervoMed from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Canaccord Genuity Group lifted their target price on CervoMed from $12.00 to $21.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. Finally, Brookline Capital Management raised CervoMed from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 11th.
Check Out Our Latest Report on CRVO
Hedge Funds Weigh In On CervoMed
A number of large investors have recently made changes to their positions in CRVO. Virtu Financial LLC bought a new stake in CervoMed in the 4th quarter valued at $26,000. Mariner LLC acquired a new stake in shares of CervoMed during the fourth quarter worth $30,000. DRW Securities LLC bought a new stake in shares of CervoMed in the fourth quarter valued at about $30,000. BNP Paribas Financial Markets acquired a new position in shares of CervoMed in the fourth quarter valued at about $32,000. Finally, JPMorgan Chase & Co. grew its stake in shares of CervoMed by 251.8% in the fourth quarter. JPMorgan Chase & Co. now owns 14,464 shares of the company's stock valued at $34,000 after acquiring an additional 10,352 shares in the last quarter. Institutional investors own 25.15% of the company's stock.
CervoMed Trading Up 0.6%
Shares of CervoMed stock traded up $0.05 on Wednesday, reaching $8.47. 68,303 shares of the company were exchanged, compared to its average volume of 1,339,785. The company has a market capitalization of $73.71 million, a price-to-earnings ratio of -3.89 and a beta of -0.23. CervoMed has a one year low of $1.80 and a one year high of $22.57. The company has a 50-day moving average of $9.38 and a 200 day moving average of $6.12.
CervoMed (NASDAQ:CRVO - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.04. The firm had revenue of $1.92 million for the quarter, compared to analyst estimates of $1.70 million. CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%. Analysts predict that CervoMed will post -1.88 earnings per share for the current year.
About CervoMed
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Get Free ReportCervoMed 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.
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