In a report released yesterday, Sumant Kulkarni from Canaccord Genuity maintained a Buy rating on CervoMed (CRVO – Research Report), with a price target of $21.00.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Sumant Kulkarni has given his Buy rating due to a combination of factors that highlight CervoMed’s promising future prospects. The company is advancing its drug neflamapimod, targeting dementia with Lewy bodies (DLB), with significant upcoming milestones. The anticipated 32-week open-label extension data in the second half of 2025 could potentially demonstrate the drug’s efficacy, addressing a high unmet need in the DLB market.
Furthermore, CervoMed’s financial position, with a cash runway extending into mid-2026, supports its ongoing and future clinical trials. The company’s strategic plans include a Phase 3 trial for neflamapimod and additional studies for other conditions, indicating a robust pipeline. Kulkarni’s valuation model, which includes a probability of approval and projected peak sales, underpins the $21 price target, reinforcing the Buy recommendation.
In another report released today, Roth MKM also reiterated a Buy rating on the stock with a $20.00 price target.
CRVO’s price has also changed moderately for the past six months – from $11.830 to $9.100, which is a -23.08% drop .
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue