CervoMed (NASDAQ:CRVO) Now Covered by HC Wainwright

HC Wainwright began coverage on shares of CervoMed (NASDAQ:CRVO) in a report released on Thursday morning, Marketbeat reports. The brokerage issued a buy rating and a $42.00 target price on the stock.

A number of other equities research analysts have also weighed in on the company. Chardan Capital reiterated a “buy” rating and issued a $55.00 price objective on shares of CervoMed in a research report on Thursday, November 14th. D. Boral Capital reiterated a “buy” rating and issued a $34.00 price target on shares of CervoMed in a report on Wednesday, November 27th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, CervoMed presently has an average rating of “Buy” and an average target price of $49.14.

CervoMed Stock Up 0.2 %

Shares of NASDAQ CRVO opened at $9.72 on Thursday. The firm’s fifty day moving average is $12.14 and its 200 day moving average is $15.14. CervoMed has a 52 week low of $5.85 and a 52 week high of $26.38.

CervoMed (NASDAQ:CRVO) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.14). The firm had revenue of $1.94 million for 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 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CRVO. FMR LLC purchased a new stake in CervoMed in the third quarter worth about $56,000. Fred Alger Management LLC purchased a new stake in shares of CervoMed in the 2nd quarter worth approximately $60,000. Rhumbline Advisers bought a new position in CervoMed during the 2nd quarter valued at approximately $96,000. Barclays PLC raised its stake 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 buying an additional 5,919 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in CervoMed in the second quarter worth $236,000. 25.15% of the stock is currently owned by institutional investors.

About CervoMed

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.