CervoMed Inc. (NASDAQ:CRVO) Receives Consensus Rating of “Moderate Buy” from Analysts

CervoMed Inc. (NASDAQ:CRVO) has received an average rating of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $23.00.

A number of brokerages recently commented on CRVO. HC Wainwright reiterated a “buy” rating and set a $25.00 target price on shares of CervoMed in a research note on Thursday, April 23rd. upgraded shares of CervoMed to a “strong-buy” rating in a research note on Tuesday, February 3rd. Chardan Capital boosted their target price 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of CervoMed in a research note on Monday, April 20th. Finally, D. Boral Capital reiterated a “buy” rating and set a $31.00 target price on shares of CervoMed in a research note on Wednesday, April 22nd.

Hedge Funds Weigh In On CervoMed

Institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers lifted its position 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 acquiring an additional 1,526 shares during the last quarter. Marshall Wace LLP purchased a new stake in CervoMed in the second quarter valued at $76,000. XTX Topco Ltd purchased a new stake in CervoMed in the fourth quarter valued at $81,000. Jane Street Group LLC purchased a new stake in CervoMed in the fourth quarter valued at $88,000. Finally, GSA Capital Partners LLP purchased a new stake in CervoMed in the third quarter valued at $91,000. Institutional investors and hedge funds own 25.15% of the company’s stock.

CervoMed Stock Down 0.8%

NASDAQ:CRVO opened at $3.77 on Wednesday. The company has a fifty day simple moving average of $4.01 and a two-hundred day simple moving average of $6.00. The company has a market cap of $34.91 million, a price-to-earnings ratio of -1.27 and a beta of -0.63. CervoMed has a 52 week low of $3.51 and a 52 week high of $13.13.

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

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.