CervoMed’s (CRVO) “Buy” Rating Reiterated at 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 $34.00 target price on the stock. D. Boral Capital’s target price indicates a potential upside of 271.38% from the stock’s current price.

Separately, Chardan Capital restated a “buy” rating and set a $55.00 target price on shares of CervoMed in a research report on Thursday, November 14th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, CervoMed has a consensus rating of “Buy” and a consensus price target of $50.33.

CervoMed Stock Performance

CRVO opened at $9.16 on Wednesday. The business has a fifty day simple moving average of $12.66 and a 200 day simple moving average of $15.63. CervoMed has a 1 year low of $5.85 and a 1 year high of $26.38.

CervoMed (NASDAQ:CRVO) last announced its earnings results on Tuesday, November 12th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.14). CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%. The business had revenue of $1.94 million during the quarter, compared to the consensus estimate of $1.75 million. As a group, sell-side analysts anticipate that CervoMed will post -1.73 EPS for the current year.

Institutional Investors Weigh In On CervoMed

A number of large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp bought a new stake in shares of CervoMed during the 2nd quarter worth approximately $236,000. Rhumbline Advisers acquired a new stake in shares of CervoMed in the 2nd quarter valued at $96,000. Citizens Financial Group Inc. RI bought a new position in shares of CervoMed in the 2nd quarter valued at $461,000. Renaissance Technologies LLC raised its holdings in shares of CervoMed by 5.2% during the 2nd quarter. Renaissance Technologies LLC now owns 32,333 shares of the company’s stock worth $554,000 after buying an additional 1,600 shares in the last quarter. Finally, Fred Alger Management LLC bought a new stake in shares of CervoMed during the 2nd quarter worth $60,000. 25.15% of the stock is currently 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.