D. Boral Capital Forecasts Strong Price Appreciation for CervoMed (NASDAQ:CRVO) Stock

Key Points

• Research analysts at D. Boral Capital have raised their price target for CervoMed (NASDAQ:CRVO) from $10.00 to $15.00, indicating a potential upside of 52.28% from its current price.
• Despite a recent earnings report showing a loss of ($0.70) EPS, CervoMed has seen increased interest from institutional investors, with many making significant purchases over the past quarters.
• CervoMed's current average rating is "Moderate Buy", with an average price target of $22.33 among analysts, indicating ongoing positive sentiment in the market.

CervoMed (NASDAQ:CRVO - Free Report) had its price objective boosted by D. Boral Capital from $10.00 to $15.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. Chardan Capital restated a "buy" rating and set a $15.00 target price on shares of CervoMed in a research report on Monday. Canaccord Genuity Group boosted their target price on CervoMed from $21.00 to $27.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, CervoMed presently has an average rating of "Moderate Buy" and a consensus price target of $21.43.

CervoMed Stock Performance

CervoMed stock remained flat at $10.19 during midday trading on Monday. The company had a trading volume of 97,890 shares, compared to its average volume of 2,082,042. CervoMed has a twelve month low of $1.80 and a twelve month high of $20.63. The stock's 50-day moving average price is $7.69 and its 200-day moving average price is $7.11. The firm has a market capitalization of $94.26 million, a P/E ratio of -3.90 and a beta of -0.79.

CervoMed (NASDAQ:CRVO - Get Free Report) last posted its earnings results on Friday, August 8th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.13). CervoMed had a negative return on equity of 59.15% and a negative net margin of 290.72%. The business had revenue of $1.76 million for the quarter, compared to analysts' expectations of $1.45 million. As a group, research analysts expect that CervoMed will post -1.88 earnings per share for the current year.

Institutional Investors Weigh In On CervoMed

Several institutional investors have recently bought and sold shares of the stock. AWM Investment Company Inc. purchased a new stake in CervoMed during the 1st quarter valued at about $7,898,000. Woodline Partners LP purchased a new stake in CervoMed during the 4th quarter valued at about $175,000. Jane Street Group LLC purchased a new stake in CervoMed during the 2nd quarter valued at about $414,000. Nuveen Asset Management LLC boosted its holdings in CervoMed by 113.6% during the 4th quarter. Nuveen Asset Management LLC now owns 41,569 shares of the company's stock valued at $97,000 after acquiring an additional 22,104 shares during the period. Finally, Nuveen LLC purchased a new stake in CervoMed during the 1st quarter valued at about $312,000. 25.15% of the stock is currently owned by hedge funds and other institutional investors.

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.