CervoMed (NASDAQ:CRVO) Upgraded to Strong-Buy at Brookline Capital Management

Brookline Capital Management upgraded shares of CervoMed (NASDAQ:CRVO) from a hold rating to a strong-buy rating in a report released on Tuesday,Zacks.com reports. Brookline Capital Management also issued estimates for CervoMed’s Q4 2024 earnings at ($0.70) EPS, FY2024 earnings at ($1.80) EPS, Q1 2025 earnings at ($0.48) EPS, Q2 2025 earnings at ($0.48) EPS, Q3 2025 earnings at ($0.38) EPS, Q4 2025 earnings at ($0.39) EPS and FY2025 earnings at ($1.71) EPS.

Several other research analysts also recently commented on CRVO. Morgan Stanley reaffirmed an “underweight” rating on shares of CervoMed in a report on Wednesday, December 11th. Canaccord Genuity Group lowered their target price on shares of CervoMed from $65.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. D. Boral Capital reiterated a “buy” rating and issued a $10.00 target price on shares of CervoMed in a research note on Tuesday. Roth Mkm increased their target price on shares of CervoMed from $7.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Chardan Capital reiterated a “neutral” rating on shares of CervoMed in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, CervoMed currently has an average rating of “Moderate Buy” and a consensus target price of $33.14.

CervoMed Stock Up 161.4 %

CRVO opened at $6.17 on Tuesday. The company has a 50 day moving average of $2.30 and a 200 day moving average of $8.20. CervoMed has a 12 month low of $1.80 and a 12 month high of $26.38.

Institutional Trading of CervoMed

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC grew its holdings in shares of CervoMed by 323.6% during 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. Perigon Wealth Management LLC bought a new position in shares of CervoMed during the 4th quarter valued at $147,000. State Street Corp grew its holdings in shares of CervoMed by 28.1% during the 3rd quarter. State Street Corp now owns 104,456 shares of the company’s stock valued at $1,525,000 after purchasing an additional 22,903 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of CervoMed by 13.9% during the 3rd quarter. Geode Capital Management LLC now owns 114,934 shares of the company’s stock valued at $1,678,000 after purchasing an additional 14,042 shares during the last quarter. Finally, Citizens Financial Group Inc. RI grew its holdings in shares of CervoMed by 13.2% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 30,509 shares of the company’s stock valued at $445,000 after purchasing an additional 3,553 shares during the last quarter. 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.