Roth Mkm Initiates Coverage on CervoMed (NASDAQ:CRVO)

Investment analysts at Roth Mkm started coverage on shares of CervoMed (NASDAQ:CRVO) in a research note issued on Friday, MarketBeat.com reports. The firm set a “buy” rating and a $45.00 price target on the stock. Roth Mkm’s target price points to a potential upside of 277.83% from the stock’s previous close.

Several other research firms also recently weighed in on CRVO. Chardan Capital reiterated a “buy” rating and set a $55.00 target price on shares of CervoMed in a research report on Thursday, November 14th. D. Boral Capital reiterated a “buy” rating and set a $34.00 target price on shares of CervoMed in a research report on Wednesday, November 27th. Finally, HC Wainwright began coverage on CervoMed in a research report on Thursday. They set a “buy” rating and a $42.00 target price for the company. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $48.63.

CervoMed Stock Performance

Shares of CRVO opened at $11.91 on Friday. The business has a fifty day moving average of $12.07 and a 200 day moving average of $15.05. CervoMed has a 52-week low of $5.85 and a 52-week high of $26.38.

CervoMed (NASDAQ:CRVO) last released its earnings results on Tuesday, November 12th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.14). CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%. The business had revenue of $1.94 million for the quarter, compared to the consensus estimate of $1.75 million. As a group, equities research analysts forecast that CervoMed will post -1.73 EPS for the current fiscal year.

Hedge Funds Weigh In On CervoMed

Institutional investors have recently made changes to their positions in the company. FMR LLC purchased a new position in shares of CervoMed during the third quarter valued at $56,000. Fred Alger Management LLC purchased a new position in CervoMed in the second quarter valued at about $60,000. Rhumbline Advisers purchased a new position in CervoMed in the second quarter valued at about $96,000. Barclays PLC grew its stake in CervoMed by 323.6% in the third 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 purchased a new position in CervoMed in the second quarter valued at about $236,000. Hedge funds and other institutional investors 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.