CervoMed (NASDAQ:CRVO) Releases Earnings Results, Misses Expectations By $0.14 EPS

CervoMed (NASDAQ:CRVO) issued its quarterly earnings data on Tuesday. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.14), Zacks reports. CervoMed had a negative return on equity of 57.17% and a negative net margin of 118.68%. The business had revenue of $1.94 million during the quarter, compared to the consensus estimate of $1.75 million.

CervoMed Stock Down 2.7 %

Shares of CRVO traded down $0.30 during midday trading on Thursday, reaching $10.92. The stock had a trading volume of 53,568 shares, compared to its average volume of 56,474. The firm’s 50 day moving average price is $14.07 and its 200-day moving average price is $16.70. CervoMed has a 52 week low of $5.85 and a 52 week high of $26.38.

Analyst Ratings Changes

A number of research analysts have issued reports on CRVO shares. Canaccord Genuity Group reiterated a “buy” rating and set a $65.00 price target on shares of CervoMed in a research report on Thursday, July 25th. Chardan Capital reaffirmed a “buy” rating and issued a $55.00 price objective on shares of CervoMed in a report on Thursday. Finally, Morgan Stanley started coverage on shares of CervoMed in a research report on Friday, July 26th. They issued an “overweight” rating and a $35.00 target price for the company. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $53.60.

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.