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

Shares of CervoMed Inc. (NASDAQ:CRVO - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $27.50.

Several research firms have weighed in on CRVO. Jones Trading raised CervoMed from a "hold" rating to a "buy" rating and set a $15.00 price objective on the stock in a research report on Thursday, March 13th. Canaccord Genuity Group upped their price target on CervoMed from $12.00 to $21.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. Brookline Capital Management upgraded shares of CervoMed from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 11th. Chardan Capital upgraded CervoMed from a "neutral" rating to a "buy" rating and set a $14.00 price objective for the company in a research report on Thursday, March 13th. Finally, Roth Mkm lifted their price target on shares of CervoMed from $15.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, March 18th.

Hedge Funds Weigh In On CervoMed

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers raised its position in shares of CervoMed by 35.5% during the 1st quarter. Rhumbline Advisers now owns 5,830 shares of the company's stock valued at $53,000 after acquiring an additional 1,526 shares in the last quarter. Barclays PLC boosted its position in shares of CervoMed by 323.6% in the 3rd quarter. Barclays PLC now owns 7,748 shares of the company's stock valued at $113,000 after purchasing an additional 5,919 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of CervoMed by 251.8% during the fourth quarter. JPMorgan Chase & Co. now owns 14,464 shares of the company's stock worth $34,000 after acquiring an additional 10,352 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of CervoMed in the 4th quarter valued at approximately $26,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of CervoMed during the 1st quarter worth $110,000. Institutional investors and hedge funds own 25.15% of the company's stock.

CervoMed Price Performance

Shares of NASDAQ:CRVO traded up $0.53 during trading on Friday, reaching $9.59. The stock had a trading volume of 371,709 shares, compared to its average volume of 1,310,807. CervoMed has a 52 week low of $1.80 and a 52 week high of $25.69. The stock has a market capitalization of $83.42 million, a PE ratio of -4.77 and a beta of 0.21. The business's 50-day moving average price is $7.61 and its 200 day moving average price is $6.74.

CervoMed (NASDAQ:CRVO - Get Free Report) last issued its earnings results on Monday, March 17th. The company reported ($0.80) earnings per share for the quarter, missing analysts' consensus estimates of ($0.67) by ($0.13). CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%. The firm had revenue of $2.16 million for the quarter, compared to analyst estimates of $1.51 million. Analysts forecast 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.