Shares of CervoMed Inc. (NASDAQ:CRVO – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, Marketbeat reports. One 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 given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $22.57.
Several research analysts have recently weighed in on the stock. D. Boral Capital reiterated a “buy” rating and set a $10.00 price objective on shares of CervoMed in a report on Wednesday, June 11th. Roth Mkm increased their price target 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. Canaccord Genuity Group lifted their price target on shares of CervoMed from $12.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. Finally, Chardan Capital upped their price objective on CervoMed from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, May 12th.
View Our Latest Stock Analysis on CRVO
CervoMed Price Performance
Shares of NASDAQ CRVO opened at $7.11 on Thursday. The company has a market cap of $61.86 million, a PE ratio of -3.26 and a beta of -0.75. CervoMed has a 12 month low of $1.80 and a 12 month high of $20.63. The company has a 50-day simple moving average of $7.51 and a 200-day simple moving average of $6.13.
CervoMed (NASDAQ:CRVO – Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.04. The company had revenue of $1.92 million during the quarter, compared to the consensus estimate of $1.70 million. CervoMed had a negative return on equity of 44.07% and a negative net margin of 200.57%. On average, analysts anticipate that CervoMed will post -1.88 EPS for the current year.
Institutional Trading of CervoMed
Several large investors have recently bought and sold shares of the company. Rhumbline Advisers grew its holdings in CervoMed by 35.5% during the 1st quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock valued at $53,000 after purchasing an additional 1,526 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of CervoMed during the first quarter valued at about $227,000. AWM Investment Company Inc. purchased a new stake in shares of CervoMed during the first quarter worth about $7,898,000. Russell Investments Group Ltd. increased its position in shares of CervoMed by 8,159.4% during the first quarter. Russell Investments Group Ltd. now owns 18,914 shares of the company’s stock worth $173,000 after acquiring an additional 18,685 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new position in shares of CervoMed in the first quarter worth about $104,000. 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.
Further Reading
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