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

Shares of CervoMed Inc. (NASDAQ:CRVO - Get Free Report) have been assigned an average rating of "Moderate Buy" from the nine research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $27.63.

A number of equities research 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. Chardan Capital boosted their target price on CervoMed from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Jones Trading upgraded CervoMed from a "hold" rating to a "buy" rating and set a $15.00 target price on the stock in a research report on Thursday, March 13th. Brookline Capital Management upgraded CervoMed from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 11th. Finally, 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.

Institutional Investors Weigh In On CervoMed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRVO. AWM Investment Company Inc. purchased a new stake in shares of CervoMed in the first quarter worth approximately $7,898,000. Woodline Partners LP purchased a new stake in shares of CervoMed in the fourth quarter worth approximately $175,000. Nuveen Asset Management LLC raised its holdings in shares of CervoMed by 113.6% in the fourth quarter. Nuveen Asset Management LLC now owns 41,569 shares of the company's stock worth $97,000 after buying an additional 22,104 shares during the period. Nuveen LLC purchased a new stake in shares of CervoMed in the first quarter worth approximately $312,000. Finally, Citizens Financial Group Inc. RI purchased a new stake in shares of CervoMed in the first quarter worth approximately $244,000. 25.15% of the stock is currently owned by hedge funds and other institutional investors.

CervoMed Price Performance

Shares of NASDAQ CRVO traded down $0.07 during mid-day trading on Friday, reaching $6.99. The company's stock had a trading volume of 52,817 shares, compared to its average volume of 1,339,786. The firm has a market capitalization of $60.81 million, a PE ratio of -3.21 and a beta of -0.73. The stock has a fifty day moving average of $8.54 and a two-hundred day moving average of $5.87. CervoMed has a 52 week low of $1.80 and a 52 week high of $22.57.

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