CervoMed Inc. (NASDAQ:CRVO) Receives $27.50 Consensus Target Price from Analysts

CervoMed Inc. (NASDAQ:CRVO - Get Free Report) has been given an average recommendation of "Moderate Buy" by the nine ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $27.50.

Several brokerages have recently commented on CRVO. HC Wainwright cut CervoMed from a "buy" rating to a "neutral" rating in a report on Tuesday, December 17th. D. Boral Capital reissued 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 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. Morgan Stanley reissued an "underweight" rating on shares of CervoMed in a research note on Wednesday, December 11th. Finally, Canaccord Genuity Group raised their price target on shares of CervoMed from $12.00 to $21.00 and gave the company a "buy" rating in a report on Tuesday, March 18th.

Institutional Investors Weigh In On CervoMed

Several institutional investors have recently modified their holdings of CRVO. Virtu Financial LLC bought a new position in CervoMed in the fourth quarter valued at approximately $26,000. DRW Securities LLC bought a new position in shares of CervoMed in the 4th quarter worth $30,000. Mariner LLC bought a new position in shares of CervoMed in the 4th quarter worth $30,000. BNP Paribas Financial Markets acquired a new stake in shares of CervoMed during the fourth quarter worth $32,000. Finally, JPMorgan Chase & Co. increased its holdings in CervoMed by 251.8% in the fourth 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 last quarter. Institutional investors and hedge funds own 25.15% of the company's stock.

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CervoMed Stock Performance

CervoMed stock traded down $0.16 during trading hours on Tuesday, hitting $11.08. 1,246,781 shares of the stock were exchanged, compared to its average volume of 1,286,409. The stock has a market capitalization of $96.43 million, a P/E ratio of -5.46 and a beta of 0.21. The business's 50-day moving average is $4.88 and its two-hundred day moving average is $7.40. CervoMed has a 12 month low of $1.80 and a 12 month high of $25.92.

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

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.