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

CervoMed (NASDAQ:CRVO)‘s stock had its “buy” rating restated by stock analysts at D. Boral Capital in a report issued on Wednesday,Benzinga reports. They presently have a $10.00 price objective on the stock. D. Boral Capital’s price objective points to a potential upside of 31.23% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. Jones Trading upgraded CervoMed from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Thursday, March 13th. Brookline Capital Management raised CervoMed from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 11th. Chardan Capital raised their target price on CervoMed from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Roth Mkm boosted their price target on CervoMed from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. Finally, Canaccord Genuity Group increased their price objective on shares of CervoMed from $12.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. One 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.63.

CervoMed Stock Up 2.0%

Shares of CRVO stock opened at $7.62 on Wednesday. The company has a 50 day moving average price of $8.66 and a 200-day moving average price of $5.93. CervoMed has a 52 week low of $1.80 and a 52 week high of $22.57. The firm has a market capitalization of $66.32 million, a PE ratio of -3.50 and a beta of -0.73.

CervoMed (NASDAQ:CRVO) last issued its earnings results on Monday, May 12th. The company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.04. CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%. The company had revenue of $1.92 million for the quarter, compared to analysts’ expectations of $1.70 million. Analysts anticipate that CervoMed will post -1.88 earnings per share for the current year.

Institutional Trading of CervoMed

Several hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers raised its stake in shares of CervoMed by 35.5% in the first quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock worth $53,000 after buying an additional 1,526 shares during the period. Virtu Financial LLC bought a new position in shares of CervoMed during the 4th quarter valued at approximately $26,000. HighTower Advisors LLC purchased a new stake in CervoMed in the 1st quarter worth approximately $104,000. Bank of New York Mellon Corp purchased a new stake in CervoMed in the 1st quarter worth approximately $110,000. Finally, DRW Securities LLC bought a new stake in CervoMed during the 4th quarter worth approximately $30,000. 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.