HC Wainwright Has Negative View of CervoMed FY2024 Earnings

CervoMed Inc. (NASDAQ:CRVO) – Research analysts at HC Wainwright lowered their FY2024 earnings per share estimates for shares of CervoMed in a note issued to investors on Tuesday, December 17th. HC Wainwright analyst R. Selvaraju now expects that the company will earn ($1.86) per share for the year, down from their previous estimate of ($1.76). HC Wainwright currently has a “Neutral” rating on the stock. The consensus estimate for CervoMed’s current full-year earnings is ($1.77) per share. HC Wainwright also issued estimates for CervoMed’s Q4 2024 earnings at ($0.63) EPS, Q1 2025 earnings at ($0.54) EPS, Q2 2025 earnings at ($0.50) EPS, Q3 2025 earnings at ($0.41) EPS, Q4 2025 earnings at ($0.32) EPS and FY2025 earnings at ($1.77) EPS.

CervoMed (NASDAQ:CRVO) last issued its earnings results on Tuesday, November 12th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.14). CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%. The company had revenue of $1.94 million during the quarter, compared to analysts’ expectations of $1.75 million.

Several other equities research analysts have also commented on CRVO. Roth Mkm began coverage on CervoMed in a research note on Friday, December 6th. They set a “buy” rating and a $45.00 price objective for the company. Roth Capital raised CervoMed to a “strong-buy” rating in a research note on Thursday, December 5th. Morgan Stanley reaffirmed an “underweight” rating on shares of CervoMed in a report on Wednesday, December 11th. Chardan Capital reaffirmed a “neutral” rating on shares of CervoMed in a research note on Wednesday, December 11th. Finally, Canaccord Genuity Group lowered their target price on CervoMed from $65.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, CervoMed has a consensus rating of “Hold” and a consensus price target of $42.00.

CervoMed Stock Down 1.5 %

Shares of NASDAQ CRVO traded down $0.03 during trading on Thursday, hitting $1.97. The company had a trading volume of 31,781 shares, compared to its average volume of 130,993. CervoMed has a fifty-two week low of $1.80 and a fifty-two week high of $26.38. The stock has a fifty day simple moving average of $10.36 and a two-hundred day simple moving average of $14.16.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC boosted its position in CervoMed by 323.6% during the third quarter. Barclays PLC now owns 7,748 shares of the company’s stock worth $113,000 after acquiring an additional 5,919 shares during the last quarter. Geode Capital Management LLC lifted its stake in CervoMed by 13.9% during the third quarter. Geode Capital Management LLC now owns 114,934 shares of the company’s stock worth $1,678,000 after purchasing an additional 14,042 shares during the last quarter. State Street Corp grew its position in shares of CervoMed by 28.1% during the third quarter. State Street Corp now owns 104,456 shares of the company’s stock worth $1,525,000 after acquiring an additional 22,903 shares during the last quarter. FMR LLC bought a new stake in shares of CervoMed during the third quarter valued at about $56,000. Finally, Citizens Financial Group Inc. RI boosted its stake in CervoMed by 13.2% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 30,509 shares of the company’s stock valued at $445,000 after purchasing an additional 3,553 shares in the last quarter. 25.15% of the stock is currently owned by institutional investors and hedge funds.

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.