CervoMed Inc. (NASDAQ:CRVO) Receives Consensus Rating of "Moderate Buy" from Brokerages

CervoMed Inc. (NASDAQ:CRVO - Get Free Report) has been assigned an average rating of "Moderate Buy" from the nine research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $22.57.

Several equities analysts recently commented on CRVO shares. Roth Mkm boosted their target price on CervoMed from $15.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, March 18th. Canaccord Genuity Group boosted their target price on CervoMed from $12.00 to $21.00 and gave the stock a "buy" rating in a research report on Tuesday, March 18th. D. Boral Capital restated a "buy" rating and set a $10.00 target price on shares of CervoMed in a research report on Wednesday, June 11th. Finally, Chardan Capital upped their price target on CervoMed from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, May 12th.

Institutional Trading of CervoMed

Several institutional investors have recently added to or reduced their stakes in the business. AWM Investment Company Inc. bought a new position in shares of 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 valued at $175,000. Nuveen LLC bought a new position in shares of CervoMed during the 1st quarter valued at $312,000. Citizens Financial Group Inc. RI bought a new position in shares of CervoMed during the 1st quarter valued at $244,000. Finally, Avantax Advisory Services Inc. bought a new position in shares of CervoMed during the 1st quarter valued at $238,000. 25.15% of the stock is currently owned by hedge funds and other institutional investors.

CervoMed Stock Down 0.8%

Shares of NASDAQ:CRVO traded down $0.06 during midday trading on Thursday, reaching $7.15. 127,724 shares of the company traded hands, compared to its average volume of 1,348,894. CervoMed has a 12 month low of $1.80 and a 12 month high of $20.63. The firm's fifty day moving average price is $7.56 and its two-hundred day moving average price is $6.07. The firm has a market capitalization of $62.23 million, a price-to-earnings ratio of -3.28 and a beta of -0.75.

CervoMed (NASDAQ:CRVO - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.60) by $0.04. CervoMed had a negative return on equity of 44.07% and a negative net margin of 200.57%. The business had revenue of $1.92 million during the quarter, compared to analysts' expectations of $1.70 million. Analysts forecast that CervoMed will post -1.88 earnings per share for the current year.

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.