D. Boral Capital Increases CervoMed (NASDAQ:CRVO) Price Target to $31.00

Key Points

• D. Boral Capital has raised its price target for CervoMed (NASDAQ:CRVO) from $15.00 to $31.00, indicating a potential upside of 206.32% from the current price.
• Despite recent positive ratings from analysts, CervoMed reported a quarterly loss of ($0.70) per share, missing expectations, while revenue of $1.76 million exceeded estimates.
• Institutional investors own 25.15% of CervoMed's stock, with several hedge funds recently increasing their positions in the company.

CervoMed (NASDAQ:CRVO - Get Free Report) had its price target hoisted by analysts at D. Boral Capital from $15.00 to $31.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. D. Boral Capital's price target points to a potential upside of 206.32% from the company's current price.

Several other analysts have also weighed in on the stock. Roth Capital set a $16.00 price objective on shares of CervoMed and gave the stock a "buy" rating in a report on Tuesday, August 12th. Chardan Capital reaffirmed a "buy" rating and set a $15.00 price objective on shares of CervoMed in a report on Monday, August 11th. Finally, Canaccord Genuity Group increased their price target 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 research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $23.71.

CervoMed Trading Down 0.7%

NASDAQ CRVO opened at $10.12 on Monday. The firm has a market cap of $93.61 million, a price-to-earnings ratio of -3.88 and a beta of -0.79. The company has a 50 day moving average of $7.74 and a 200-day moving average of $7.23. CervoMed has a 1-year low of $1.80 and a 1-year high of $20.63.

CervoMed (NASDAQ:CRVO - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The company reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.13). The firm had revenue of $1.76 million for 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%. On average, analysts forecast that CervoMed will post -1.88 earnings per share for the current year.

Hedge Funds Weigh In On CervoMed

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. AWM Investment Company Inc. bought a new position in shares of CervoMed during the first quarter worth $7,898,000. Woodline Partners LP bought a new position in CervoMed in the fourth quarter valued at approximately $175,000. Jane Street Group LLC bought a new stake in CervoMed in the 2nd quarter valued at $414,000. Nuveen Asset Management LLC lifted its position in CervoMed by 113.6% in the 4th quarter. Nuveen Asset Management LLC now owns 41,569 shares of the company's stock valued at $97,000 after acquiring an additional 22,104 shares in the last quarter. Finally, Nuveen LLC bought a new stake in CervoMed in the 1st quarter valued at $312,000. 25.15% of the stock is owned by institutional investors.

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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