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

D. Boral Capital reaffirmed their buy rating on shares of CervoMed (NASDAQ:CRVO - Free Report) in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $10.00 target price on the stock.

Other equities analysts also recently issued reports about the company. Roth Capital upgraded CervoMed to a "strong-buy" rating in a report on Thursday, December 5th. Brookline Capital Management upgraded shares of CervoMed from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 11th. HC Wainwright downgraded shares of CervoMed from a "buy" rating to a "neutral" rating in a research note on Tuesday, December 17th. Chardan Capital raised shares of CervoMed from a "neutral" rating to a "buy" rating and set a $14.00 target price on the stock in a research note on Thursday, March 13th. Finally, Morgan Stanley reaffirmed an "underweight" rating on shares of CervoMed in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $27.50.

CervoMed Trading Up 11.5 %

Shares of NASDAQ CRVO traded up $0.98 on Wednesday, reaching $9.48. 1,051,230 shares of the company traded hands, compared to its average volume of 1,260,367. The stock has a market capitalization of $82.50 million, a PE ratio of -4.67 and a beta of 1.84. CervoMed has a fifty-two week low of $1.80 and a fifty-two week high of $25.92. The company has a 50 day moving average of $4.00 and a 200 day moving average of $7.59.

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CervoMed (NASDAQ:CRVO - Get Free Report) last issued its quarterly 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). The company had revenue of $2.16 million for the quarter, compared to analyst estimates of $1.51 million. CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%. As a group, research analysts expect that CervoMed will post -1.88 earnings per share for the current year.

Hedge Funds Weigh In On CervoMed

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of CervoMed by 323.6% in the third quarter. Barclays PLC now owns 7,748 shares of the company's stock worth $113,000 after acquiring an additional 5,919 shares in the last quarter. Perigon Wealth Management LLC acquired a new position in shares of CervoMed in the 4th quarter valued at approximately $147,000. State Street Corp boosted its stake in shares of CervoMed by 28.1% during the 3rd quarter. State Street Corp now owns 104,456 shares of the company's stock valued at $1,525,000 after buying an additional 22,903 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of CervoMed by 13.9% in the third quarter. Geode Capital Management LLC now owns 114,934 shares of the company's stock worth $1,678,000 after buying an additional 14,042 shares during the last quarter. Finally, Cornerstone Wealth Management LLC acquired a new stake in CervoMed in the fourth quarter valued at $48,000. 25.15% of the stock is owned by hedge funds and other institutional investors.

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.