CervoMed Inc. (NASDAQ:CRVO) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of CervoMed Inc. (NASDAQ:CRVO) have earned an average rating of “Moderate Buy” from the nine analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $27.50.

CRVO has been the subject of a number of recent research reports. Morgan Stanley reissued an “underweight” rating on shares of CervoMed in a report on Wednesday, December 11th. Chardan Capital upgraded CervoMed from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a report on Thursday, March 13th. Brookline Capital Management upgraded CervoMed from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 11th. Roth Mkm upped their target price on shares of CervoMed from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. Finally, HC Wainwright lowered shares of CervoMed from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 17th.

Hedge Funds Weigh In On CervoMed

Several institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new position in CervoMed in the fourth quarter valued at about $26,000. DRW Securities LLC purchased a new position in CervoMed in the fourth quarter valued at approximately $30,000. Mariner LLC bought a new position in CervoMed during the fourth quarter valued at $30,000. BNP Paribas Financial Markets purchased a new stake in CervoMed in the fourth quarter worth $32,000. Finally, JPMorgan Chase & Co. raised its stake in shares of CervoMed by 251.8% in the fourth quarter. JPMorgan Chase & Co. now owns 14,464 shares of the company’s stock valued at $34,000 after buying an additional 10,352 shares during the period. Institutional investors own 25.15% of the company’s stock.

CervoMed Trading Down 3.5 %

NASDAQ CRVO opened at $9.15 on Tuesday. The company has a fifty day simple moving average of $4.14 and a 200 day simple moving average of $7.48. CervoMed has a 12-month low of $1.80 and a 12-month high of $25.92. The company has a market cap of $79.63 million, a P/E ratio of -4.51 and a beta of 1.84.

CervoMed (NASDAQ:CRVO) last issued its quarterly earnings data on Monday, March 17th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.13). CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%. The business had revenue of $2.16 million for the quarter, compared to analyst estimates of $1.51 million. Sell-side analysts predict that CervoMed will post -1.88 EPS for the current year.

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.