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

Shares of CervoMed Inc. (NASDAQ:CRVO - Get Free Report) have received an average rating of "Moderate Buy" from the nine analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $27.63.

CRVO has been the subject of several analyst reports. Jones Trading upgraded CervoMed from a "hold" rating to a "buy" rating and set a $15.00 target price for the company 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. Canaccord Genuity Group raised 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. Finally, Roth Mkm raised 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.

Institutional Investors Weigh In On CervoMed

A number of hedge funds and other institutional investors have recently bought and sold shares of CRVO. AWM Investment Company Inc. acquired a new stake in CervoMed during the 1st quarter valued at $7,898,000. Woodline Partners LP acquired a new stake in CervoMed during the 4th quarter valued at $175,000. Nuveen LLC acquired a new stake in CervoMed during the 1st quarter valued at $312,000. Citizens Financial Group Inc. RI acquired a new stake in CervoMed during the 1st quarter valued at $244,000. Finally, Avantax Advisory Services Inc. acquired a new stake in CervoMed during the 1st quarter valued at $238,000. 25.15% of the stock is owned by institutional investors and hedge funds.

CervoMed Trading Down 6.6%

Shares of CRVO stock opened at $7.12 on Friday. The stock has a 50 day moving average of $8.64 and a two-hundred day moving average of $5.90. CervoMed has a 12 month low of $1.80 and a 12 month high of $22.57. The company has a market capitalization of $61.97 million, a P/E ratio of -3.27 and a beta of -0.73.

CervoMed (NASDAQ:CRVO - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.56) EPS for the quarter, topping analysts' consensus estimates of ($0.60) by $0.04. CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%. The company had revenue of $1.92 million during the quarter, compared to the consensus estimate of $1.70 million. Sell-side analysts predict that CervoMed will post -1.88 earnings per share 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.

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