Roth/MKM Starts CervoMed (CRVO) at Buy

Roth/MKM analyst Boobalan Pachaiyappan initiates coverage on CervoMed (NASDAQ: CRVO) with a Buy rating and a price target of $45.00.

The analyst comments "We initiate coverage of CervoMed with a Buy rating and a 12-month PT of $45 based on DCF analysis. Central to our bullish thesis is neflamapimod’s (40mg TID) efficacy in a Phase 2a study in pure DLB patients (n=11), positive expectations for the Phase 2b readout anticipated in 4Q24 and the potential to be the first mover (revenue estimates: >$1B in 2034). Management expects cash to last through 2025 ($46.7M at 3Q24-end), though we expect equity financing upon positive Phase 2b data."

For an analyst ratings summary and ratings history on CervoMed click here. For more ratings news on CervoMed click here.

Shares of CervoMed closed at $9.70 yesterday.

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