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

D. Boral Capital reissued their buy rating on shares of CervoMed (NASDAQ:CRVO - Free Report) in a report released on Monday morning,Benzinga reports. They currently have a $10.00 target price on the stock.

Other research analysts have also recently issued reports about the stock. Chardan Capital raised shares of CervoMed from a "neutral" rating to a "buy" rating and set a $14.00 price objective on the stock in a research note on Thursday, March 13th. Jones Trading raised CervoMed from a "hold" rating to a "buy" rating and set a $15.00 price target for the company in a report on Thursday, March 13th. Canaccord Genuity Group dropped their price objective on CervoMed from $65.00 to $12.00 and set a "buy" rating for the company in a research report on Wednesday, December 11th. Morgan Stanley reiterated an "underweight" rating on shares of CervoMed in a research report on Wednesday, December 11th. Finally, Brookline Capital Management raised shares of CervoMed from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, one has assigned 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $27.50.

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CervoMed Stock Up 23.6 %

Shares of CRVO traded up $2.73 during trading hours on Monday, hitting $14.29. 7,288,342 shares of the company were exchanged, compared to its average volume of 1,209,310. The company has a market cap of $88.17 million, a price-to-earnings ratio of -7.04 and a beta of 1.84. The firm's fifty day moving average is $3.06 and its 200 day moving average is $7.90. CervoMed has a fifty-two week low of $1.80 and a fifty-two week high of $25.92.

CervoMed (NASDAQ:CRVO - Get Free Report) last announced its quarterly earnings data on Monday, March 17th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.67) by ($0.13). The firm 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%. Analysts anticipate that CervoMed will post -1.88 EPS for the current year.

Institutional Trading of CervoMed

A number of hedge funds have recently made changes to their positions in CRVO. Citizens Financial Group Inc. RI increased its stake in shares of CervoMed by 13.2% in the third quarter. Citizens Financial Group Inc. RI now owns 30,509 shares of the company's stock valued at $445,000 after buying an additional 3,553 shares during the period. FMR LLC bought a new stake in CervoMed during the 3rd quarter worth approximately $56,000. State Street Corp increased its position in CervoMed by 28.1% in the 3rd quarter. State Street Corp now owns 104,456 shares of the company's stock valued at $1,525,000 after acquiring an additional 22,903 shares during the period. Barclays PLC raised its stake in shares of CervoMed by 323.6% during the third quarter. Barclays PLC now owns 7,748 shares of the company's stock valued at $113,000 after acquiring an additional 5,919 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of CervoMed by 13.9% during the third quarter. Geode Capital Management LLC now owns 114,934 shares of the company's stock valued at $1,678,000 after acquiring an additional 14,042 shares during the last quarter. 25.15% of the stock is owned by institutional investors and hedge funds.

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.