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

CervoMed (NASDAQ:CRVO)‘s stock had its “buy” rating restated by analysts at D. Boral Capital in a research report issued on Wednesday,Benzinga reports. They currently have a $31.00 target price on the stock.

CRVO has been the topic of a number of other reports. Roth Mkm reduced their target price on shares of CervoMed from $19.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. raised shares of CervoMed to a “strong-buy” rating in a research note on Tuesday, February 3rd. Zacks Research raised shares of CervoMed from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Chardan Capital boosted their price target on shares of CervoMed from $15.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of CervoMed in a research note on Monday. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.00.

CervoMed Price Performance

Shares of CRVO stock traded up $0.05 during trading hours on Wednesday, reaching $3.94. 49,723 shares of the company were exchanged, compared to its average volume of 76,470. CervoMed has a fifty-two week low of $3.51 and a fifty-two week high of $13.13. The stock’s fifty day moving average is $4.22 and its two-hundred day moving average is $6.38. The company has a market cap of $36.50 million, a price-to-earnings ratio of -1.32 and a beta of -0.67.

CervoMed (NASDAQ:CRVO) last announced its earnings results on Friday, March 13th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). CervoMed had a negative return on equity of 96.04% and a negative net margin of 672.80%.The company had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.84 million. On average, research analysts anticipate that CervoMed will post -2.31 earnings per share for the current year.

Institutional Investors Weigh In On CervoMed

Large investors have recently bought and sold shares of the company. Citizens Financial Group Inc. RI increased its stake in CervoMed by 14.2% in the third quarter. Citizens Financial Group Inc. RI now owns 30,477 shares of the company’s stock valued at $247,000 after purchasing an additional 3,800 shares in the last quarter. GSA Capital Partners LLP bought a new stake in CervoMed in the third quarter valued at approximately $91,000. Rhumbline Advisers increased its stake in CervoMed by 35.5% in the first quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock valued at $53,000 after purchasing an additional 1,526 shares in the last quarter. Vanguard Group Inc. increased its stake in CervoMed by 1.0% in the third quarter. Vanguard Group Inc. now owns 343,463 shares of the company’s stock valued at $2,779,000 after purchasing an additional 3,445 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in CervoMed in the second quarter valued at approximately $414,000. Institutional investors own 25.15% of the company’s stock.

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. The company also develops EIP200 for central nervous system which is in preclinical trials. CervoMed Inc was founded in 2010 and is headquartered in Boston, Massachusetts.