CervoMed (NASDAQ:CRVO) Price Target Raised to $21.00

by · The Markets Daily

CervoMed (NASDAQ:CRVO – Free Report) had its target price boosted by Canaccord Genuity Group from $12.00 to $21.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms also recently issued reports on CRVO. Morgan Stanley reissued an “underweight” rating on shares of CervoMed in a research note on Wednesday, December 11th. HC Wainwright lowered CervoMed from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 17th. Chardan Capital upgraded CervoMed from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Thursday, March 13th. Brookline Capital Management raised CervoMed from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 11th. Finally, Roth Mkm increased their target price on CervoMed from $7.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.50.

View Our Latest Analysis on CervoMed

CervoMed Stock Performance

Shares of CervoMed stock opened at $11.56 on Tuesday. CervoMed has a fifty-two week low of $1.80 and a fifty-two week high of $25.92. The firm has a market capitalization of $71.33 million, a price-to-earnings ratio of -5.69 and a beta of 1.84. The stock has a 50 day moving average of $3.06 and a 200 day moving average of $7.90.

CervoMed (NASDAQ:CRVO – Get Free Report) last released its quarterly 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 business had revenue of $2.16 million for the quarter, compared to analysts’ expectations of $1.51 million. CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%. Analysts forecast that CervoMed will post -1.88 EPS for the current year.

Institutional Investors Weigh In On CervoMed

A number of hedge funds have recently bought and sold shares of CRVO. Woodline Partners LP purchased a new stake in shares of CervoMed during the fourth quarter worth approximately $175,000. Nuveen Asset Management LLC grew its holdings in CervoMed by 113.6% during the 4th quarter. Nuveen Asset Management LLC now owns 41,569 shares of the company’s stock worth $97,000 after acquiring an additional 22,104 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of CervoMed in the 4th quarter valued at approximately $32,000. Mariner LLC acquired a new stake in shares of CervoMed in the 4th quarter valued at $30,000. Finally, DRW Securities LLC purchased a new stake in shares of CervoMed during the 4th quarter worth $30,000. Institutional investors and hedge funds own 25.15% of the company’s stock.

CervoMed Company Profile

(Get Free Report)

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.

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