CervoMed upgraded to Buy from Neutral at H.C. Wainwright

H.C. Wainwright analyst Raghuram Selvaraju upgraded CervoMed (CRVO) to Buy from Neutral with a $25 price target after the company received written feedback from the FDA aligning on key aspects of its proposed Phase 3 clinical trial of neflamapimod. The parameters on which CervoMed has reached alignment with the FDA “appear eminently logical and reasonable,” the analyst tells investors in a research note. H.C. Wainwright believes this a “significant risk-mitigating development” for the company.