CervoMed’s (CRVO) Buy Rating Reaffirmed at D. Boral Capital

CervoMed (NASDAQ:CRVO)‘s stock had its “buy” rating reaffirmed by D. Boral Capital in a note issued to investors on Tuesday,Benzinga reports. They presently have a $31.00 price objective on the stock. D. Boral Capital’s price target would indicate a potential upside of 236.23% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Zacks Research downgraded CervoMed from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. HC Wainwright raised CervoMed from a “neutral” rating to a “buy” rating and raised their price objective for the company from $11.00 to $25.00 in a report on Wednesday, November 5th. Chardan Capital reaffirmed a “buy” rating and issued a $15.00 target price on shares of CervoMed in a research note on Monday, August 11th. Roth Capital set a $20.00 price target on shares of CervoMed and gave the company a “buy” rating in a research report on Friday, October 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of CervoMed in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.86.

CervoMed Price Performance

CRVO stock opened at $9.22 on Tuesday. CervoMed has a one year low of $1.80 and a one year high of $16.94. The stock has a market cap of $85.31 million, a PE ratio of -3.53 and a beta of -0.89. The firm has a 50 day simple moving average of $7.97 and a two-hundred day simple moving average of $8.14.

CervoMed (NASDAQ:CRVO) last posted its quarterly earnings data on Friday, November 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.16). CervoMed had a negative net margin of 290.72% and a negative return on equity of 59.15%. The company had revenue of $0.32 million for the quarter, compared to analysts’ expectations of $1.43 million. On average, research analysts expect that CervoMed will post -1.88 EPS for the current fiscal year.

Insider Transactions at CervoMed

In other news, CEO John J. Alam purchased 10,807 shares of the company’s stock in a transaction on Monday, November 17th. The stock was acquired at an average price of $8.46 per share, with a total value of $91,427.22. Following the transaction, the chief executive officer directly owned 1,484,078 shares of the company’s stock, valued at approximately $12,555,299.88. This represents a 0.73% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sylvie Gregoire purchased 10,807 shares of the business’s stock in a transaction on Monday, November 17th. The stock was purchased at an average cost of $8.46 per share, for a total transaction of $91,427.22. Following the acquisition, the director owned 12,500 shares in the company, valued at approximately $105,750. The trade was a 638.33% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 92,000 shares of company stock worth $737,723. Insiders own 35.40% of the company’s stock.

Hedge Funds Weigh In On CervoMed

Several hedge funds and other institutional investors have recently modified their holdings of CRVO. Rhumbline Advisers grew its stake in shares of CervoMed by 35.5% in the first quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock worth $53,000 after purchasing an additional 1,526 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in CervoMed in the 3rd quarter worth approximately $91,000. HighTower Advisors LLC bought a new stake in shares of CervoMed in the 1st quarter worth approximately $104,000. Marshall Wace LLP purchased a new position in shares of CervoMed during the second quarter valued at approximately $76,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of CervoMed during the first quarter valued at approximately $110,000. 25.15% of the stock is owned by 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.