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

Key Points

• CervoMed Inc. (NASDAQ:CRVO) has received a consensus rating of "Moderate Buy" from analysts, with a 12-month price target averaging $19.29.
• Institutional investors have recently increased their stake in CervoMed, collectively owning 25.15% of the company, with significant new positions taken by several hedge funds.
• The company's most recent quarterly earnings report showed a loss of ($0.70) EPS, missing expectations, while revenue was reported at $1.76 million, above analyst estimates.

CervoMed Inc. (NASDAQ:CRVO - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the nine brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $19.2857.

A number of equities analysts have recently commented on CRVO shares. D. Boral Capital lifted their price target on shares of CervoMed from $15.00 to $31.00 and gave the company a "buy" rating in a research report on Monday, August 18th. Canaccord Genuity Group lifted their target price on shares of CervoMed from $21.00 to $27.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. HC Wainwright restated a "neutral" rating and set a $11.00 price target on shares of CervoMed in a report on Monday, September 8th. Roth Capital reaffirmed a "buy" rating and issued a $16.00 price target (down from $20.00) on shares of CervoMed in a research report on Tuesday, August 12th. Finally, Chardan Capital reiterated a "buy" rating and issued a $15.00 price objective on shares of CervoMed in a research note on Monday, August 11th.

Institutional Investors Weigh In On CervoMed

Several hedge funds and other institutional investors have recently modified their holdings of the stock. AWM Investment Company Inc. acquired a new position in CervoMed during the 1st quarter valued at $7,898,000. Woodline Partners LP bought a new position in shares of CervoMed during the 4th quarter worth about $175,000. Jane Street Group LLC acquired a new position in shares of CervoMed during the second quarter valued at about $414,000. Nuveen LLC bought a new stake in shares of CervoMed in the first quarter valued at about $312,000. Finally, Citizens Financial Group Inc. RI acquired a new stake in CervoMed during the first quarter worth about $244,000. Institutional investors and hedge funds own 25.15% of the company's stock.

CervoMed Price Performance

NASDAQ CRVO opened at $8.16 on Tuesday. CervoMed has a fifty-two week low of $1.80 and a fifty-two week high of $18.00. The stock's 50-day moving average is $9.05 and its two-hundred day moving average is $8.51. The firm has a market cap of $75.48 million, a P/E ratio of -3.13 and a beta of -0.72.

CervoMed (NASDAQ:CRVO - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The company reported ($0.70) EPS for the quarter, missing analysts' consensus estimates of ($0.57) by ($0.13). CervoMed had a negative net margin of 290.72% and a negative return on equity of 59.15%. The company had revenue of $1.76 million for the quarter, compared to analyst estimates of $1.45 million. On average, equities 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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