D. Boral Capital Reaffirms “Buy” Rating for CervoMed (NASDAQ:CRVO)

D. Boral Capital reissued their buy rating on shares of CervoMed (NASDAQ:CRVO) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $10.00 price target on the stock.

A number of other research analysts also recently commented on CRVO. Roth Capital raised CervoMed to a “strong-buy” rating in a report on Thursday, December 5th. Chardan Capital upgraded 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. Roth Mkm boosted their target price on shares of CervoMed from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. Morgan Stanley reissued an “underweight” rating on shares of CervoMed in a report on Wednesday, December 11th. Finally, Canaccord Genuity Group lifted 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, CervoMed has an average rating of “Moderate Buy” and an average target price of $27.50.

CervoMed Trading Up 11.5 %

Shares of NASDAQ:CRVO opened at $9.48 on Wednesday. The firm has a market cap of $82.50 million, a PE ratio of -4.67 and a beta of 1.84. The company has a fifty day simple moving average of $4.00 and a 200 day simple moving average of $7.64. CervoMed has a 12-month low of $1.80 and a 12-month high of $25.92.

CervoMed (NASDAQ:CRVO) last released its earnings results on Monday, March 17th. The company reported ($0.80) earnings per share 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 company had revenue of $2.16 million during the quarter, compared to the consensus estimate of $1.51 million. As a group, equities research analysts forecast that CervoMed will post -1.88 EPS for the current fiscal year.

Institutional Trading of CervoMed

Several hedge funds have recently bought and sold shares of CRVO. FMR LLC bought a new position in CervoMed in the 3rd quarter worth about $56,000. Barclays PLC boosted its position in shares of CervoMed by 323.6% during the third quarter. Barclays PLC now owns 7,748 shares of the company’s stock worth $113,000 after buying an additional 5,919 shares during the period. JPMorgan Chase & Co. grew its holdings in CervoMed by 251.8% in the 4th quarter. JPMorgan Chase & Co. now owns 14,464 shares of the company’s stock worth $34,000 after buying an additional 10,352 shares in the last quarter. Virtu Financial LLC acquired a new stake in CervoMed in the 4th quarter valued at approximately $26,000. Finally, DRW Securities LLC bought a new stake in CervoMed during the 4th quarter valued at $30,000. 25.15% of the stock is currently owned by institutional investors.

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.