CervoMed price target raised to $31 from $15 at D. Boral Capital

D. Boral Capital analyst Jason Kolbert raised the firm’s price target on CervoMed (CRVO) to $31 from $15 and keeps a Buy rating on the shares. The firm increased its probability of clinical success for neflamapimod in dementia with Lewy bodies to 30% from 15% based on recently presented data. The recent results “materially strengthen” the late-stage outlook for the program and address uncertainties, the analyst tells investors in a research note. D. Boral points out that the underdosed patients performed like placebo, while fully dosed patients drove the efficacy signal.