CervoMed’s (CRVO) “Underweight” Rating Reaffirmed at Morgan Stanley

Morgan Stanley reissued their underweight rating on shares of CervoMed (NASDAQ:CRVO) in a research report sent to investors on Wednesday, Marketbeat.com reports.

Other research analysts have also issued reports about the company. HC Wainwright assumed coverage on CervoMed in a report on Thursday, December 5th. They issued a “buy” rating and a $42.00 target price for the company. Roth Mkm initiated coverage on CervoMed in a research note on Friday, December 6th. They issued a “buy” rating and a $45.00 price objective for the company. Chardan Capital reiterated a “neutral” rating on shares of CervoMed in a research note on Wednesday. D. Boral Capital reiterated a “hold” rating on shares of CervoMed in a research note on Tuesday. Finally, Roth Capital upgraded shares of CervoMed to a “strong-buy” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

CervoMed Stock Performance

Shares of CervoMed stock opened at $1.90 on Wednesday. The business has a 50-day moving average of $11.04 and a 200 day moving average of $14.55. CervoMed has a 12 month low of $1.81 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). CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%. The business had revenue of $1.94 million during the quarter, compared to analysts’ expectations of $1.75 million. Research analysts predict that CervoMed will post -1.76 EPS for the current year.

Institutional Investors Weigh In On CervoMed

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC purchased a new stake in CervoMed in the third quarter valued at $56,000. Fred Alger Management LLC purchased a new stake in shares of CervoMed in the 2nd quarter valued at about $60,000. Rhumbline Advisers purchased a new stake in shares of CervoMed in the 2nd quarter valued at about $96,000. Barclays PLC lifted its holdings in shares of 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 purchased a new stake in shares of CervoMed in the 2nd quarter valued at about $236,000. 25.15% of the stock is owned by hedge funds and other 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.