Chardan Capital Raises CervoMed (NASDAQ:CRVO) Price Target to $15.00

CervoMed (NASDAQ:CRVO - Get Free Report) had its price objective raised by research analysts at Chardan Capital from $14.00 to $15.00 in a report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Chardan Capital's price objective would suggest a potential upside of 64.84% from the stock's previous close.

A number of other analysts have also weighed in on CRVO. Canaccord Genuity Group increased their target price on CervoMed from $12.00 to $21.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. D. Boral Capital reiterated a "buy" rating and set a $10.00 price objective on shares of CervoMed in a report on Wednesday, March 26th. Roth Mkm boosted their price objective on shares of CervoMed from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. Jones Trading raised shares of CervoMed from a "hold" rating to a "buy" rating and set a $15.00 target price on the stock in a research report on Thursday, March 13th. Finally, Brookline Capital Management raised shares of CervoMed from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 11th. One investment 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 company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.63.

CervoMed Price Performance

Shares of CervoMed stock traded up $0.61 during trading on Monday, hitting $9.10. The stock had a trading volume of 295,976 shares, compared to its average volume of 1,328,523. CervoMed has a 12 month low of $1.80 and a 12 month high of $25.67. The firm's fifty day simple moving average is $8.63 and its 200-day simple moving average is $6.46. The stock has a market cap of $79.20 million, a PE ratio of -4.48 and a beta of -0.23.

CervoMed (NASDAQ:CRVO - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.56) earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.70 million. Analysts expect that CervoMed will post -1.88 earnings per share for the current fiscal year.

Institutional Trading of CervoMed

Several hedge funds and other institutional investors have recently made changes to their positions in CRVO. Woodline Partners LP purchased a new stake in CervoMed in the fourth quarter valued at about $175,000. Perigon Wealth Management LLC purchased a new position in CervoMed in the 4th quarter worth $147,000. Citizens Financial Group Inc. RI acquired a new stake in CervoMed during the 1st quarter worth about $244,000. Avantax Advisory Services Inc. acquired a new position in CervoMed in the 1st quarter worth approximately $238,000. Finally, Nuveen Asset Management LLC raised its position in CervoMed by 113.6% during the 4th quarter. Nuveen Asset Management LLC now owns 41,569 shares of the company's stock worth $97,000 after buying an additional 22,104 shares during the last quarter. Hedge funds and other institutional investors own 25.15% of the company's stock.

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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