CervoMed (NASDAQ:CRVO – Get Free Report) released its earnings results on Monday. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.13), Zacks reports. The business had revenue of $2.16 million during the quarter, compared to analyst estimates of $1.51 million. CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%.
CervoMed Stock Up 3.2 %
Shares of NASDAQ CRVO opened at $9.34 on Wednesday. CervoMed has a 1-year low of $1.80 and a 1-year high of $26.38. The business has a 50-day moving average of $2.73 and a 200-day moving average of $7.87.
Wall Street Analysts Forecast Growth
CRVO has been the subject of several analyst reports. Canaccord Genuity Group upped their target price on CervoMed from $12.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday. Jones Trading raised CervoMed from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Thursday, March 13th. Roth Mkm boosted their price target on CervoMed from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday. D. Boral Capital reissued a “buy” rating and set a $10.00 price target on shares of CervoMed in a research report on Monday. Finally, Morgan Stanley reissued an “underweight” rating on shares of CervoMed in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.50.
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.
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