CervoMed (NASDAQ:CRVO) Price Target Raised to $20.00

CervoMed (NASDAQ:CRVO) had its price objective raised by equities research analysts at Roth Mkm from $15.00 to $20.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Roth Mkm’s price objective would suggest a potential upside of 111.24% from the company’s current price.

Several other brokerages have also recently issued reports on CRVO. D. Boral Capital restated a “buy” rating and issued a $10.00 price objective on shares of CervoMed in a research note on Monday. Jones Trading upgraded CervoMed from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Thursday, March 13th. Morgan Stanley restated an “underweight” rating on shares of CervoMed in a research note on Wednesday, December 11th. Brookline Capital Management upgraded CervoMed from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Finally, Chardan Capital upgraded CervoMed from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Thursday, March 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, CervoMed currently has an average rating of “Moderate Buy” and a consensus target price of $27.50.

CervoMed Stock Up 4.6 %

Shares of CRVO stock traded up $0.42 during mid-day trading on Tuesday, reaching $9.47. The stock had a trading volume of 2,425,559 shares, compared to its average volume of 4,998,719. CervoMed has a 1-year low of $1.80 and a 1-year high of $26.38. The business’s fifty day moving average is $2.59 and its 200-day moving average is $7.93.

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

Institutional Trading of CervoMed

A number of institutional investors and hedge funds have recently made changes to their positions in CRVO. Virtu Financial LLC purchased a new stake in shares of CervoMed in the fourth quarter valued at approximately $26,000. DRW Securities LLC purchased a new stake in shares of CervoMed in the fourth quarter valued at approximately $30,000. Mariner LLC purchased a new stake in shares of CervoMed in the fourth quarter valued at approximately $30,000. BNP Paribas Financial Markets purchased a new stake in shares of CervoMed in the fourth quarter valued at approximately $32,000. Finally, JPMorgan Chase & Co. increased its position 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 in the last quarter. 25.15% of the stock is currently owned by hedge funds and other institutional investors.

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.