CervoMed price target raised to $20 from $16 at Roth Capital

Roth Capital raised the firm’s price target on CervoMed (CRVO) to $20 from $16 and keeps a Buy rating on the shares. Following a re-analysis of the Phase 2b results, Roth is “convinced” that CervoMed’s neflamapimod has the potential to become a new therapy for dementia with Lewy bodies. The firm increased the drug’s probability of success to 50% from 40%, prompting the higher price target