CervoMed’s (CRVO) Buy Rating Reiterated at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of CervoMed (NASDAQ:CRVO) in a report published on Thursday morning,Benzinga reports. They currently have a $55.00 target price on the stock.

Several other research analysts also recently weighed in on the company. Canaccord Genuity Group restated a “buy” rating and set a $65.00 target price on shares of CervoMed in a research note on Thursday, July 25th. Morgan Stanley assumed coverage on CervoMed in a research note on Friday, July 26th. They set an “overweight” rating and a $35.00 price target on the stock. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $53.60.

CervoMed Price Performance

CRVO traded up $0.08 on Thursday, hitting $11.00. The company had a trading volume of 33,581 shares, compared to its average volume of 56,370. The stock has a fifty day moving average price of $13.99 and a 200-day moving average price of $16.66. CervoMed has a 12-month low of $5.85 and a 12-month high of $26.38.

CervoMed (NASDAQ:CRVO) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.14). The firm 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%. Research analysts anticipate that CervoMed will post -1.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CervoMed

A number of large investors have recently bought and sold shares of CRVO. RA Capital Management L.P. acquired a new stake in shares of CervoMed during the 1st quarter valued at about $20,075,000. Ikarian Capital LLC acquired a new stake in CervoMed in the first quarter valued at approximately $5,530,000. Crown Advisors Management Inc. purchased a new stake in shares of CervoMed in the first quarter valued at approximately $2,330,000. Citizens Financial Group Inc. RI acquired a new position in shares of CervoMed during the 2nd quarter worth approximately $461,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of CervoMed during the 2nd quarter valued at approximately $236,000. 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.