CervoMed (NASDAQ:CRVO) Upgraded at Roth Capital

Roth Capital upgraded shares of CervoMed (NASDAQ:CRVO) to a strong-buy rating in a report published on Thursday morning,Zacks.com reports.

CRVO has been the topic of several other research reports. HC Wainwright started coverage on CervoMed in a report on Thursday. They set a “buy” rating and a $42.00 price objective on the stock. D. Boral Capital reissued a “buy” rating and set a $34.00 price objective on shares of CervoMed in a report on Wednesday, November 27th. Chardan Capital reissued a “buy” rating and set a $55.00 price objective on shares of CervoMed in a report on Thursday, November 14th. Finally, Roth Mkm started coverage on CervoMed in a report on Friday. They set a “buy” rating and a $45.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, CervoMed has a consensus rating of “Buy” and a consensus target price of $48.63.

CervoMed Stock Up 22.5 %

Shares of NASDAQ CRVO opened at $11.91 on Thursday. The business’s 50 day moving average is $12.07 and its two-hundred day moving average is $15.05. CervoMed has a 12 month low of $5.85 and a 12 month high of $26.38.

CervoMed (NASDAQ:CRVO) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.14). The business had revenue of $1.94 million during 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%. On average, equities research analysts expect that CervoMed will post -1.73 EPS for the current year.

Institutional Trading of CervoMed

Several institutional investors have recently bought and sold shares of CRVO. FMR LLC bought a new position in CervoMed in the 3rd quarter valued at $56,000. Fred Alger Management LLC bought a new position in CervoMed in the 2nd quarter valued at $60,000. Rhumbline Advisers bought a new position in CervoMed in the 2nd quarter valued at $96,000. Barclays PLC raised its position in CervoMed by 323.6% in the 3rd quarter. Barclays PLC now owns 7,748 shares of the company’s stock valued at $113,000 after purchasing an additional 5,919 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in CervoMed in the 2nd quarter valued at $236,000. Institutional investors and hedge funds own 25.15% of the company’s stock.

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.