CervoMed (NASDAQ:CRVO) Receives “Hold” Rating from D. Boral Capital

CervoMed (NASDAQ:CRVO)‘s stock had its “hold” rating restated by D. Boral Capital in a research report issued to clients and investors on Tuesday,Benzinga reports.

A number of other research analysts have also issued reports on CRVO. Roth Capital upgraded shares of CervoMed to a “strong-buy” rating in a research note on Thursday, December 5th. Roth Mkm assumed coverage on shares of CervoMed in a research note on Friday. They issued a “buy” rating and a $45.00 price objective for the company. 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. Finally, HC Wainwright initiated coverage on shares of CervoMed in a research report on Thursday, December 5th. They issued a “buy” rating and a $42.00 price target for the company. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $48.63.

CervoMed Trading Down 13.9 %

Shares of CRVO opened at $10.25 on Tuesday. The business’s 50-day moving average is $11.99 and its 200-day moving average is $14.97. CervoMed has a fifty-two week low of $5.85 and a fifty-two week high of $26.38.

CervoMed (NASDAQ:CRVO) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.14). CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%. The firm had revenue of $1.94 million for the quarter, compared to analysts’ expectations of $1.75 million. Sell-side analysts predict that CervoMed will post -1.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. FMR LLC acquired a new position in CervoMed in the third quarter valued at about $56,000. Fred Alger Management LLC acquired a new stake in shares of CervoMed in the 2nd quarter valued at approximately $60,000. Rhumbline Advisers bought a new position in CervoMed during the 2nd quarter worth approximately $96,000. Barclays PLC grew its holdings in CervoMed by 323.6% during the third quarter. Barclays PLC now owns 7,748 shares of the company’s stock valued at $113,000 after purchasing an additional 5,919 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in CervoMed in the second quarter valued at approximately $236,000. 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.