CervoMed’s (CRVO) Buy Rating Reiterated at D. Boral Capital

D. Boral Capital reaffirmed their buy rating on shares of CervoMed (NASDAQ:CRVO) in a research note released on Monday morning,Benzinga reports. D. Boral Capital currently has a $10.00 price objective on the stock.

Several other research firms have also commented on CRVO. Roth Capital raised shares of CervoMed to a “strong-buy” rating in a research note on Thursday, December 5th. Jones Trading raised shares of CervoMed from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Thursday, March 13th. 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. Brookline Capital Management raised shares of CervoMed from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 11th. Finally, HC Wainwright cut shares of CervoMed from a “buy” rating to a “neutral” rating in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, CervoMed currently has a consensus rating of “Moderate Buy” and an average target price of $27.50.

CervoMed Price Performance

Shares of CervoMed stock opened at $9.37 on Monday. CervoMed has a 12-month low of $1.80 and a 12-month high of $26.38. The company’s fifty day simple moving average is $2.87 and its two-hundred day simple moving average is $7.88.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Barclays PLC raised its holdings 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 purchasing an additional 5,919 shares during the last quarter. Perigon Wealth Management LLC purchased a new stake in CervoMed during the fourth quarter valued at approximately $147,000. State Street Corp increased its holdings in CervoMed by 28.1% during the third quarter. State Street Corp now owns 104,456 shares of the company’s stock valued at $1,525,000 after buying an additional 22,903 shares during the last quarter. Geode Capital Management LLC increased its holdings in 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 buying an additional 14,042 shares during the last quarter. Finally, Citizens Financial Group Inc. RI increased its holdings in CervoMed by 13.2% during 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 last quarter. 25.15% of the stock is owned by hedge funds and other 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.