CervoMed Inc. (NASDAQ:CRVO) Receives $23.00 Consensus Target Price from Brokerages

CervoMed Inc. (NASDAQ:CRVO) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $23.00.

CRVO has been the subject of a number of analyst reports. Roth Mkm lowered their price target on shares of CervoMed from $19.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, March 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CervoMed in a report on Monday, April 20th. Zacks Research raised shares of CervoMed from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. raised shares of CervoMed to a “strong-buy” rating in a report on Tuesday, February 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price target on shares of CervoMed in a report on Thursday, April 23rd.

Institutional Trading of CervoMed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRVO. Northwestern Mutual Wealth Management Co. raised its position in CervoMed by 8,425,900.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 84,260 shares of the company’s stock worth $666,000 after purchasing an additional 84,259 shares during the period. Jane Street Group LLC purchased a new stake in CervoMed in the 2nd quarter worth about $414,000. Citadel Advisors LLC purchased a new stake in CervoMed in the 3rd quarter worth about $247,000. Savvy Advisors Inc. purchased a new stake in CervoMed in the 3rd quarter worth about $210,000. Finally, AQR Capital Management LLC purchased a new stake in CervoMed in the 1st quarter worth about $227,000. 25.15% of the stock is owned by hedge funds and other institutional investors.

CervoMed Stock Performance

Shares of NASDAQ:CRVO opened at $3.95 on Wednesday. CervoMed has a 12 month low of $3.51 and a 12 month high of $13.13. The company has a 50-day moving average price of $4.03 and a 200 day moving average price of $6.07. The company has a market cap of $36.58 million, a price-to-earnings ratio of -1.33 and a beta of -0.63.

CervoMed (NASDAQ:CRVO) last announced its quarterly earnings results on Friday, March 13th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $0.84 million. As a group, equities analysts forecast that CervoMed will post -2.31 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. 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.