CervoMed (NASDAQ:CRVO) Given “Buy” Rating at HC Wainwright

CervoMed (NASDAQ:CRVO)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research report issued on Thursday,Benzinga reports. They currently have a $25.00 price objective on the stock.

Other equities research analysts have also issued reports about the company. raised CervoMed to a “strong-buy” rating in a research report on Tuesday, February 3rd. Zacks Research raised CervoMed from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Chardan Capital raised their target price on CervoMed from $15.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, March 18th. D. Boral Capital reissued a “buy” rating and issued a $31.00 price objective on shares of CervoMed in a report on Wednesday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of CervoMed in a report on Monday. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

CervoMed Trading Up 1.3%

NASDAQ CRVO opened at $3.94 on Thursday. The firm has a market capitalization of $36.48 million, a P/E ratio of -1.32 and a beta of -0.67. The business has a fifty day simple moving average of $4.21 and a 200 day simple moving average of $6.36. CervoMed has a 12 month low of $3.51 and a 12 month high of $13.13.

CervoMed (NASDAQ:CRVO) last announced its earnings results on Friday, March 13th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.09). CervoMed had a negative net margin of 672.80% and a negative return on equity of 96.04%. The business had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.84 million. As a group, sell-side analysts predict that CervoMed will post -2.31 EPS for the current fiscal year.

Institutional Investors Weigh In On CervoMed

Large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its holdings in CervoMed by 35.5% in the 1st quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock worth $53,000 after acquiring an additional 1,526 shares during the last quarter. Marshall Wace LLP purchased a new stake in CervoMed in the 2nd quarter worth about $76,000. XTX Topco Ltd purchased a new stake in CervoMed in the 4th quarter worth about $81,000. Jane Street Group LLC bought a new position in CervoMed in the 4th quarter worth about $88,000. Finally, GSA Capital Partners LLP bought a new position in CervoMed in the 3rd quarter worth about $91,000. Hedge funds and other 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. The company also develops EIP200 for central nervous system which is in preclinical trials. CervoMed Inc was founded in 2010 and is headquartered in Boston, Massachusetts.