CervoMed's (CRVO) Buy Rating Reiterated at D. Boral Capital

Key Points

• D. Boral Capital has reiterated a "buy" rating for CervoMed (CRVO) and set a target price of $10.00, suggesting a potential upside of 24.22%.
• CervoMed's stock has a consensus rating of "Moderate Buy" with an average target price of $22.57, as per recent analysts' ratings.
• In the last quarter, CervoMed reported a revenue of $1.92 million, exceeding analysts' expectations, and it posted an EPS of ($0.56), beating the consensus estimate of ($0.60).

CervoMed (NASDAQ:CRVO - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at D. Boral Capital in a research report issued on Friday,Benzinga reports. They presently have a $10.00 target price on the stock. D. Boral Capital's price objective indicates a potential upside of 24.22% from the company's current price.

Separately, Chardan Capital raised their target price on CervoMed from $14.00 to $15.00 and gave the company a "buy" rating in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.57.

CervoMed Price Performance

Shares of CervoMed stock opened at $8.05 on Friday. The business has a 50-day moving average of $7.35 and a 200 day moving average of $6.38. CervoMed has a 12 month low of $1.80 and a 12 month high of $20.63. The stock has a market capitalization of $70.04 million, a price-to-earnings ratio of -3.69 and a beta of -0.75.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in shares of CervoMed during the 4th quarter worth about $26,000. DRW Securities LLC acquired a new stake in shares of CervoMed during the 4th quarter worth about $30,000. Mariner LLC acquired a new stake in shares of CervoMed during the 4th quarter worth about $30,000. BNP Paribas Financial Markets acquired a new stake in shares of CervoMed during the 4th quarter worth about $32,000. Finally, JPMorgan Chase & Co. raised its position in shares of CervoMed by 251.8% during the 4th quarter. JPMorgan Chase & Co. now owns 14,464 shares of the company's stock worth $34,000 after acquiring an additional 10,352 shares in the last quarter. Hedge funds and other 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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