CervoMed (NASDAQ:CRVO) Receives “Buy” Rating from D. Boral Capital

CervoMed (NASDAQ:CRVO)‘s stock had its “buy” rating restated by D. Boral Capital in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $10.00 target price on the stock. D. Boral Capital’s price objective indicates a potential upside of 12.99% from the company’s previous close.

CRVO has been the subject of several other research reports. HC Wainwright cut shares of CervoMed from a “buy” rating to a “neutral” rating in a report on Tuesday, December 17th. Morgan Stanley restated an “underweight” rating on shares of CervoMed in a research note on Wednesday, December 11th. Jones Trading raised CervoMed from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Thursday, March 13th. Canaccord Genuity Group lifted their target price on shares of CervoMed from $12.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. Finally, Roth Mkm increased their price target 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 research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, CervoMed presently has a consensus rating of “Moderate Buy” and an average target price of $27.50.

CervoMed Price Performance

CervoMed stock opened at $8.85 on Wednesday. The stock has a market cap of $77.02 million, a PE ratio of -4.36 and a beta of 1.84. The stock’s fifty day moving average is $3.61 and its two-hundred day moving average is $7.68. CervoMed has a 1-year low of $1.80 and a 1-year high of $25.92.

CervoMed (NASDAQ:CRVO) last released its quarterly earnings data on Monday, March 17th. The company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.13). The business had revenue of $2.16 million during the quarter, compared to analysts’ expectations of $1.51 million. CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%. On average, research analysts expect that CervoMed will post -1.88 earnings per share for the current fiscal year.

Institutional Trading of CervoMed

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC purchased a new position in CervoMed during the third quarter worth about $56,000. Barclays PLC raised its stake in shares of CervoMed by 323.6% during the 3rd quarter. Barclays PLC now owns 7,748 shares of the company’s stock worth $113,000 after buying an additional 5,919 shares in the last quarter. JPMorgan Chase & Co. lifted 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 buying an additional 10,352 shares during the period. Virtu Financial LLC purchased a new stake in shares of CervoMed in the fourth quarter valued at approximately $26,000. Finally, DRW Securities LLC acquired a new position in CervoMed during the fourth quarter worth $30,000. 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.