CervoMed (NASDAQ:CRVO) Releases Quarterly Earnings Results, Misses Expectations By $0.13 EPS

CervoMed (NASDAQ:CRVO) released its quarterly earnings results on Monday. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.13), Zacks reports. CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%.

CervoMed Stock Up 37.3 %

Shares of CervoMed stock traded up $2.41 during trading on Monday, reaching $8.85. The company’s stock had a trading volume of 3,605,615 shares, compared to its average volume of 4,717,604. CervoMed has a 1-year low of $1.80 and a 1-year high of $26.38. The company has a 50-day simple moving average of $2.45 and a two-hundred day simple moving average of $7.98.

Analysts Set New Price Targets

Several research firms have commented on CRVO. Roth Capital raised shares of CervoMed to a “strong-buy” rating in a research note on Thursday, December 5th. HC Wainwright downgraded shares of CervoMed from a “buy” rating to a “neutral” rating in a report on Tuesday, December 17th. Morgan Stanley reaffirmed an “underweight” rating on shares of CervoMed in a research note on Wednesday, December 11th. Canaccord Genuity Group cut their price target on shares of CervoMed from $65.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Finally, Brookline Capital Management upgraded shares of CervoMed from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.75.

CervoMed Company Profile

CervoMed Inc, a biotechnology company, engages in the development and commercialization of treatments for age-related neurologic disorders. Its lead drug candidate is neflamapimod, an orally administered small molecule brain penetrant for the treatment of dementia with Lewy bodies (DLB), Alzheimer's diseases, frontotemporal dementia, and ischemic stroke recovery.