CervoMed (NASDAQ:CRVO) Price Target Raised to $15.00

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 - Get Free Report) had its price target lifted by research analysts at D. Boral Capital from $10.00 to $15.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. D. Boral Capital's price target suggests a potential upside of 52.28% from the stock's current price.

Several other equities analysts have also recently issued reports on CRVO. Chardan Capital restated a "buy" rating and set a $15.00 target price on shares of CervoMed in a research note on Monday. Canaccord Genuity Group upped their target price on shares of CervoMed from $21.00 to $27.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $22.33.

CervoMed Stock Performance

CRVO opened at $9.85 on Monday. The stock has a market capitalization of $85.72 million, a P/E ratio of -3.77 and a beta of -0.79. The company's 50-day simple moving average is $7.53 and its two-hundred day simple moving average is $6.97. CervoMed has a 52-week low of $1.80 and a 52-week high of $20.63.

CervoMed (NASDAQ:CRVO - Get Free Report) last posted its earnings results on Friday, August 8th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.13). The company had revenue of $1.76 million for the quarter, compared to the consensus estimate of $1.45 million. CervoMed had a negative net margin of 290.72% and a negative return on equity of 56.78%. Research analysts forecast that CervoMed will post -1.88 EPS for the current fiscal year.

Hedge Funds Weigh In On CervoMed

Institutional investors have recently made changes to their positions in the business. Mariner LLC bought a new position in shares of CervoMed in the 4th quarter worth approximately $30,000. BNP Paribas Financial Markets bought a new position in shares of CervoMed in the 4th quarter worth approximately $32,000. JPMorgan Chase & Co. lifted its stake in shares of CervoMed by 251.8% in the 4th quarter. JPMorgan Chase & Co. now owns 14,464 shares of the company's stock worth $34,000 after purchasing an additional 10,352 shares during the period. Rhumbline Advisers lifted its stake in shares of CervoMed by 35.5% in the 1st quarter. Rhumbline Advisers now owns 5,830 shares of the company's stock worth $53,000 after purchasing an additional 1,526 shares during the period. Finally, Thompson Davis & CO. Inc. bought a new stake in CervoMed during the 2nd quarter worth approximately $91,000. Institutional investors own 25.15% of the company's stock.

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.

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