CervoMed (NASDAQ:CRVO) Given “Buy” Rating at D. Boral Capital

D. Boral Capital reiterated their buy rating on shares of CervoMed (NASDAQ:CRVO) in a research note issued to investors on Wednesday,Benzinga reports. D. Boral Capital currently has a $34.00 price target on the stock.

Separately, Chardan Capital reiterated a “buy” rating and set a $55.00 target price on shares of CervoMed in a research report on Thursday, November 14th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $50.33.

CervoMed Trading Up 18.0 %

Shares of CRVO stock opened at $10.80 on Wednesday. The company’s fifty day simple moving average is $12.54 and its two-hundred day simple moving average is $15.48. CervoMed has a 52 week low of $5.85 and a 52 week high of $26.38.

CervoMed (NASDAQ:CRVO) last posted its earnings results on Tuesday, November 12th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.14). The firm had revenue of $1.94 million during the quarter, compared to analysts’ expectations of $1.75 million. CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%. On average, sell-side analysts forecast that CervoMed will post -1.73 EPS for the current fiscal year.

Institutional Investors Weigh In On CervoMed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRVO. Geode Capital Management LLC increased its position in shares of CervoMed by 13.9% during the 3rd quarter. Geode Capital Management LLC now owns 114,934 shares of the company’s stock valued at $1,678,000 after purchasing an additional 14,042 shares during the last quarter. State Street Corp boosted its stake in CervoMed by 28.1% during the third quarter. State Street Corp now owns 104,456 shares of the company’s stock worth $1,525,000 after buying an additional 22,903 shares during the period. Renaissance Technologies LLC increased its position in CervoMed by 5.2% during the second quarter. Renaissance Technologies LLC now owns 32,333 shares of the company’s stock valued at $554,000 after acquiring an additional 1,600 shares during the last quarter. Citizens Financial Group Inc. RI increased its position 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 acquiring an additional 3,553 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of CervoMed in the second quarter valued at $236,000. 25.15% of the stock is currently 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.