CervoMed (NASDAQ:CRVO) Earns Buy Rating from D. Boral Capital

D. Boral Capital restated their buy rating on shares of CervoMed (NASDAQ:CRVO - Free Report) in a report published on Wednesday morning,Benzinga reports. They currently have a $10.00 target price on the stock.

Several other research firms have also issued reports on CRVO. Roth Mkm increased their target price on CervoMed from $15.00 to $20.00 and gave the stock a "buy" rating in a report 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 boosted their target price on shares of CervoMed from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Canaccord Genuity Group increased their price target on shares of CervoMed from $12.00 to $21.00 and gave the stock a "buy" rating in a research report on Tuesday, March 18th. Finally, Jones Trading raised shares of CervoMed from a "hold" rating to a "buy" rating and set a $15.00 price objective on the stock in a research note on Thursday, March 13th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $27.63.

CervoMed Price Performance

CRVO stock traded up $0.10 during trading hours on Wednesday, reaching $7.57. The stock had a trading volume of 20,550 shares, compared to its average volume of 1,333,767. The stock has a 50-day simple moving average of $8.70 and a 200 day simple moving average of $5.94. CervoMed has a fifty-two week low of $1.80 and a fifty-two week high of $22.57. The stock has a market capitalization of $65.88 million, a PE ratio of -3.47 and a beta of -0.73.

CervoMed (NASDAQ:CRVO - Get Free Report) last posted its earnings results 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. CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%. The business had revenue of $1.92 million for the quarter, compared to analyst estimates of $1.70 million. On average, sell-side analysts forecast that CervoMed will post -1.88 EPS for the current fiscal year.

Hedge Funds Weigh In On CervoMed

Institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers boosted its stake in CervoMed by 35.5% during the first quarter. Rhumbline Advisers now owns 5,830 shares of the company's stock worth $53,000 after acquiring an additional 1,526 shares in the last quarter. JPMorgan Chase & Co. grew 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 buying an additional 10,352 shares during the last quarter. Virtu Financial LLC bought a new position in CervoMed during the 4th quarter valued at approximately $26,000. HighTower Advisors LLC purchased a new position in CervoMed during the first quarter valued at $104,000. Finally, Bank of New York Mellon Corp bought a new stake in CervoMed in the first quarter worth $110,000. 25.15% of the stock is owned by institutional investors.

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.