CervoMed price target raised to $15 from $7 at Roth MKM

Roth MKM analyst Boobalan Pachaiyappan raised the firm’s price target on CervoMed (CRVO) to $15 from $7 and keeps a Buy rating on the shares. The company’s newly manufactured neflamapimod capsules delivered functional improvements in pure DLB patients, including slowing memory decline and improving mobility, which is a finding that investors hoped to see in December 2024, the analyst tells investors in a research note. The firm adds that its increased price target is “meaningfully accommodating” neflamapimod clinical advancement and management’s execution of identifying and rectifying product batch manufacturing inconsistencies, while simultaneously advancing a Phase 2 study in France whose results might influence the FDA to reconsider its partial clinical hold stance on neflamapimod.