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

CervoMed (NASDAQ:CRVO - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at D. Boral Capital in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $10.00 price target on the stock. D. Boral Capital's price target would indicate a potential upside of 13.90% from the company's current price.

A number of other research analysts also recently issued reports on CRVO. 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 report on Thursday, March 13th. Chardan Capital lifted their target price on shares of CervoMed from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Canaccord Genuity Group lifted their target price on shares of CervoMed from $12.00 to $21.00 and gave the stock a "buy" rating in a research note 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. Finally, Roth Mkm lifted their target price on shares of CervoMed from $15.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. One equities 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 stock. According to data from MarketBeat, CervoMed presently has an average rating of "Moderate Buy" and a consensus target price of $27.63.

CervoMed Price Performance

Shares of NASDAQ:CRVO traded up $0.14 during trading hours on Tuesday, hitting $8.78. The company's stock had a trading volume of 82,710 shares, compared to its average volume of 1,331,044. The firm's fifty day moving average price is $9.28 and its 200 day moving average price is $6.39. CervoMed has a 52 week low of $1.80 and a 52 week high of $24.80. The company has a market capitalization of $76.41 million, a price-to-earnings ratio of -4.03 and a beta of -0.23.

CervoMed (NASDAQ:CRVO - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.60) by $0.04. CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%. The firm had revenue of $1.92 million for the quarter, compared to the consensus estimate of $1.70 million. On average, equities research analysts predict that CervoMed will post -1.88 earnings per share for the current fiscal year.

Institutional Trading of CervoMed

Institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers lifted its stake in CervoMed by 35.5% during the 1st quarter. Rhumbline Advisers now owns 5,830 shares of the company's stock valued at $53,000 after acquiring an additional 1,526 shares during the period. Barclays PLC lifted its stake in shares of CervoMed by 323.6% in the 3rd quarter. Barclays PLC now owns 7,748 shares of the company's stock valued at $113,000 after purchasing an additional 5,919 shares during the period. Virtu Financial LLC acquired a new position in shares of CervoMed in the 4th quarter valued at $26,000. HighTower Advisors LLC acquired a new position in shares of CervoMed in the 1st quarter valued at $104,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of CervoMed in the 1st quarter valued at $110,000. 25.15% of the stock is currently owned by institutional investors and hedge funds.

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.