CervoMed (NASDAQ:CRVO) Earns Buy Rating from Chardan Capital

Key Points

• Chardan Capital has reaffirmed a "buy" rating for CervoMed (NASDAQ:CRVO) with a target price of $15.00, suggesting a potential upside of 52.28% from its current price.
• The consensus rating for CervoMed is a "Moderate Buy," with estimates averaging a price target of $22.33 from various analysts.
• CervoMed reported a quarterly loss of ($0.70) EPS, missing expectations but exceeding revenue estimates with $1.76 million for the quarter.

CervoMed (NASDAQ:CRVO - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Chardan Capital in a research report issued on Monday,Benzinga reports. They presently have a $15.00 target price on the stock. Chardan Capital's price target would suggest a potential upside of 47.20% from the stock's previous close. Chardan Capital also issued estimates for CervoMed's FY2025 earnings at ($2.56) EPS and FY2026 earnings at ($1.15) EPS.

Other equities research analysts also recently issued reports about the stock. Canaccord Genuity Group lifted their price target on shares of CervoMed from $21.00 to $27.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. D. Boral Capital reaffirmed a "buy" rating and issued a $10.00 price objective on shares of CervoMed in a report on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, CervoMed currently has an average rating of "Moderate Buy" and an average price target of $21.43.

CervoMed Price Performance

NASDAQ:CRVO remained flat at $10.19 during trading hours on Monday. 97,890 shares of the company were exchanged, compared to its average volume of 2,082,042. The firm has a market cap of $94.26 million, a price-to-earnings ratio of -3.90 and a beta of -0.79. The firm's fifty day moving average is $7.69 and its 200-day moving average is $7.11. CervoMed has a 12-month low of $1.80 and a 12-month high of $20.63.

CervoMed (NASDAQ:CRVO - Get Free Report) last released 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). The firm had revenue of $1.76 million during the quarter, compared to analyst estimates of $1.45 million. CervoMed had a negative return on equity of 59.15% and a negative net margin of 290.72%. Equities research analysts forecast that CervoMed will post -1.88 earnings per share for the current fiscal year.

Institutional Trading of CervoMed

Several institutional investors and hedge funds have recently bought and sold shares of CRVO. JPMorgan Chase & Co. increased its holdings in shares of CervoMed by 251.8% in the 4th quarter. JPMorgan Chase & Co. now owns 14,464 shares of the company's stock valued at $34,000 after purchasing an additional 10,352 shares during the period. Mariner LLC acquired a new position in CervoMed in the fourth quarter worth approximately $30,000. BNP Paribas Financial Markets acquired a new position in CervoMed in the fourth quarter worth approximately $32,000. Nuveen Asset Management LLC increased its holdings in CervoMed by 113.6% in the fourth 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. Finally, Woodline Partners LP acquired a new position in CervoMed in the fourth quarter worth approximately $175,000. Institutional investors and hedge funds 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.