D. Boral Capital Reiterates Buy Rating for CervoMed (NASDAQ:CRVO)

D. Boral Capital reiterated their buy rating on shares of CervoMed (NASDAQ:CRVO) in a research note issued to investors on Wednesday morning,Benzinga reports. D. Boral Capital currently has a $34.00 target price on the stock.

Separately, Chardan Capital reaffirmed a “buy” rating and set a $55.00 target price on shares of CervoMed in a research report on Thursday, November 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $50.33.

CervoMed Stock Performance

NASDAQ:CRVO opened at $9.16 on Wednesday. The stock’s 50-day moving average is $12.83 and its 200-day moving average is $15.68. CervoMed has a 1-year low of $5.85 and a 1-year high of $26.38.

CervoMed (NASDAQ:CRVO) last posted its earnings results on Tuesday, November 12th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.14). The business had revenue of $1.94 million for the quarter, compared to the consensus estimate of $1.75 million. CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%. On average, research analysts forecast that CervoMed will post -1.73 earnings per share for the current year.

Institutional Trading of CervoMed

A number of institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC grew its stake in CervoMed by 5.2% during the second quarter. Renaissance Technologies LLC now owns 32,333 shares of the company’s stock worth $554,000 after purchasing an additional 1,600 shares during the period. Fred Alger Management LLC bought a new stake in shares of CervoMed in the 2nd quarter valued at $60,000. Citizens Financial Group Inc. RI lifted its position in shares of CervoMed by 13.2% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 30,509 shares of the company’s stock valued at $445,000 after acquiring an additional 3,553 shares during the period. FMR LLC bought a new position in CervoMed during the third quarter worth $56,000. Finally, Rhumbline Advisers acquired a new stake in CervoMed in the second quarter worth $96,000. Institutional investors own 25.15% of the company’s stock.

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.