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

Shares of CervoMed Inc. (NASDAQ:CRVO) have earned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the firm, Marketbeat Ratings 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 1 year price objective among analysts that have issued a report on the stock in the last year is $27.50.

CRVO has been the topic of a number of research reports. HC Wainwright lowered shares of CervoMed from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 17th. Morgan Stanley reiterated an “underweight” rating on shares of CervoMed in a report on Wednesday, December 11th. Canaccord Genuity Group raised their target price on CervoMed from $12.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. Brookline Capital Management upgraded CervoMed from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 11th. Finally, Jones Trading upgraded shares of CervoMed from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Thursday, March 13th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CRVO. Virtu Financial LLC bought a new stake in shares of CervoMed in the 4th quarter worth about $26,000. DRW Securities LLC bought a new position in shares of CervoMed during the fourth quarter valued at approximately $30,000. Mariner LLC purchased a new stake in shares of CervoMed in the fourth quarter worth approximately $30,000. BNP Paribas Financial Markets purchased a new position in CervoMed during the 4th quarter valued at $32,000. Finally, JPMorgan Chase & Co. grew its position in CervoMed by 251.8% in the 4th quarter. JPMorgan Chase & Co. now owns 14,464 shares of the company’s stock valued at $34,000 after acquiring an additional 10,352 shares during the last quarter. 25.15% of the stock is owned by hedge funds and other institutional investors.

CervoMed Stock Down 11.9 %

Shares of NASDAQ:CRVO opened at $9.76 on Tuesday. The company’s fifty day moving average is $5.03 and its 200 day moving average is $7.28. CervoMed has a 52 week low of $1.80 and a 52 week high of $25.92. The stock has a market cap of $84.94 million, a PE ratio of -4.81 and a beta of 0.21.

CervoMed (NASDAQ:CRVO) last announced its quarterly earnings results on Monday, March 17th. The company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.13). The company had revenue of $2.16 million during the quarter, compared to analysts’ expectations of $1.51 million. CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%. Sell-side analysts anticipate that CervoMed will post -1.88 EPS for the current year.

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.