Roth Mkm Boosts CervoMed (NASDAQ:CRVO) Price Target to $20.00

CervoMed (NASDAQ:CRVO) had its target price lifted by research analysts at Roth Mkm from $15.00 to $20.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Roth Mkm’s target price would indicate a potential upside of 113.45% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Brookline Capital Management upgraded shares of CervoMed from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 11th. Canaccord Genuity Group lifted their target price on shares of CervoMed from $12.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday. Roth Capital upgraded shares of CervoMed to a “strong-buy” rating in a research note on Thursday, December 5th. HC Wainwright cut shares of CervoMed from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 17th. Finally, Jones Trading upgraded shares of CervoMed from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Thursday, March 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.50.

CervoMed Stock Performance

NASDAQ:CRVO opened at $9.37 on Tuesday. CervoMed has a fifty-two week low of $1.80 and a fifty-two week high of $26.38. The company’s 50-day simple moving average is $2.87 and its 200-day simple moving average is $7.88.

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

Institutional Trading of CervoMed

Several large investors have recently made changes to their positions in the business. Woodline Partners LP purchased a new stake in shares of CervoMed in the 4th quarter valued at $175,000. Nuveen Asset Management LLC boosted its holdings in shares of CervoMed by 113.6% in the 4th quarter. Nuveen Asset Management LLC now owns 41,569 shares of the company’s stock valued at $97,000 after acquiring an additional 22,104 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of CervoMed in the 4th quarter valued at $32,000. Mariner LLC purchased a new stake in shares of CervoMed in the 4th quarter valued at $30,000. Finally, DRW Securities LLC acquired a new position in shares of CervoMed in the 4th quarter valued at $30,000. 25.15% of the stock is owned by hedge funds and other institutional investors.

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.