CervoMed (NASDAQ:CRVO) Upgraded at Roth Capital

Roth Capital upgraded shares of CervoMed (NASDAQ:CRVO) to a strong-buy rating in a research report sent to investors on Thursday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on the stock. Chardan Capital reissued a “buy” rating and issued a $55.00 price target on shares of CervoMed in a report on Thursday, November 14th. D. Boral Capital reissued a “buy” rating and issued a $34.00 price target on shares of CervoMed in a report on Wednesday, November 27th. HC Wainwright initiated coverage on shares of CervoMed in a report on Thursday. They issued a “buy” rating and a $42.00 price target for the company. Finally, Roth Mkm initiated coverage on shares of CervoMed in a report on Friday. They issued a “buy” rating and a $45.00 price target for the company. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, CervoMed has an average rating of “Buy” and a consensus target price of $48.63.

CervoMed Stock Performance

CervoMed stock opened at $11.91 on Thursday. The firm has a 50 day moving average price of $12.07 and a 200 day moving average price of $15.05. CervoMed has a 1 year low of $5.85 and a 1 year high of $26.38.

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

Hedge Funds Weigh In On CervoMed

Large investors have recently made changes to their positions in the business. Fred Alger Management LLC purchased a new stake in shares of CervoMed during the 2nd quarter worth about $60,000. FMR LLC purchased a new stake in shares of CervoMed during the 3rd quarter worth about $56,000. Rhumbline Advisers purchased a new stake in shares of CervoMed during the 2nd quarter worth about $96,000. Barclays PLC raised its stake in shares of CervoMed by 323.6% during the 3rd quarter. Barclays PLC now owns 7,748 shares of the company’s stock worth $113,000 after purchasing an additional 5,919 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of CervoMed during the 2nd quarter worth about $236,000. Institutional investors and hedge funds 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.