CervoMed Inc. (NASDAQ:CRVO) Given Average Rating of "Moderate Buy" by Analysts

CervoMed Inc. (NASDAQ:CRVO - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the nine ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $27.63.

Several brokerages have issued reports on CRVO. Chardan Capital boosted their target price on shares of CervoMed from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Roth Mkm upped their price target on shares of CervoMed from $15.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. Brookline Capital Management raised shares of CervoMed from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 11th. D. Boral Capital reaffirmed a "buy" rating and issued a $10.00 price target on shares of CervoMed in a research note on Tuesday, May 13th. Finally, Canaccord Genuity Group upped their price target on shares of CervoMed from $12.00 to $21.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th.

Institutional Investors Weigh In On CervoMed

Large investors have recently bought and sold shares of the business. AWM Investment Company Inc. bought a new stake in CervoMed during the first quarter valued at about $7,898,000. Woodline Partners LP bought a new stake in CervoMed during the fourth quarter valued at about $175,000. Perigon Wealth Management LLC bought a new stake in CervoMed during the fourth quarter valued at about $147,000. Nuveen Asset Management LLC boosted its holdings in CervoMed by 113.6% during the fourth quarter. Nuveen Asset Management LLC now owns 41,569 shares of the company's stock valued at $97,000 after acquiring an additional 22,104 shares during the period. Finally, Nuveen LLC bought a new stake in CervoMed during the first quarter valued at about $312,000. 25.15% of the stock is currently owned by institutional investors.

CervoMed Price Performance

Shares of NASDAQ:CRVO opened at $8.78 on Wednesday. The stock has a market cap of $76.41 million, a price-to-earnings ratio of -4.03 and a beta of -0.23. CervoMed has a 12 month low of $1.80 and a 12 month high of $22.57. The stock's 50 day moving average price is $9.39 and its 200 day moving average price is $6.28.

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%. On average, sell-side analysts expect that CervoMed will post -1.88 EPS for the current year.

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.

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