CervoMed Inc. (NASDAQ:CRVO) Receives Consensus Recommendation of "Moderate Buy" from Analysts

CervoMed Inc. (NASDAQ:CRVO - Get Free Report) has received an average recommendation of "Moderate Buy" from the nine analysts that are currently covering the stock, 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 issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $22.57.

CRVO has been the topic of several analyst reports. D. Boral Capital reaffirmed a "buy" rating and issued a $10.00 target price on shares of CervoMed in a report on Wednesday, June 11th. Jones Trading raised shares of CervoMed from a "hold" rating to a "buy" rating and set a $15.00 price objective on the stock in a research note on Thursday, March 13th. Chardan Capital lifted 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. Canaccord Genuity Group boosted their target price on CervoMed from $12.00 to $21.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. Finally, Roth Mkm raised their price target on CervoMed from $15.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, March 18th.

Institutional Trading of CervoMed

Several hedge funds have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in CervoMed during the 4th quarter worth $26,000. JPMorgan Chase & Co. grew its position in shares of CervoMed by 251.8% during the 4th quarter. JPMorgan Chase & Co. now owns 14,464 shares of the company's stock worth $34,000 after buying an additional 10,352 shares during the period. DRW Securities LLC bought a new stake in shares of CervoMed during the fourth quarter worth approximately $30,000. Mariner LLC acquired a new position in CervoMed in the fourth quarter valued at approximately $30,000. Finally, BNP Paribas Financial Markets bought a new position in CervoMed in the fourth quarter valued at approximately $32,000. 25.15% of the stock is owned by institutional investors.

CervoMed Stock Up 8.6%

CRVO traded up $0.57 during midday trading on Thursday, reaching $7.21. 302,512 shares of the company's stock were exchanged, compared to its average volume of 1,338,542. The business has a 50-day simple moving average of $7.69 and a two-hundred day simple moving average of $5.97. The firm has a market capitalization of $62.75 million, a price-to-earnings ratio of -3.31 and a beta of -0.75. CervoMed has a one year low of $1.80 and a one year high of $20.63.

CervoMed (NASDAQ:CRVO - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.56) EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.70 million. As a group, research analysts anticipate that CervoMed will post -1.88 EPS for the current fiscal 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.