CervoMed (NASDAQ:CRVO) Posts Earnings Results, Misses Estimates By $0.13 EPS

CervoMed (NASDAQ:CRVO) issued its quarterly earnings results on Monday. The company reported ($0.80) 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 Price Performance

Shares of CervoMed stock traded up $2.41 during trading hours on Monday, hitting $8.85. The company’s stock had a trading volume of 3,605,615 shares, compared to its average volume of 4,717,604. The business has a 50 day moving average price of $2.45 and a two-hundred day moving average price of $7.98. CervoMed has a 12-month low of $1.80 and a 12-month high of $26.38.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CRVO shares. HC Wainwright cut CervoMed from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 17th. Roth Capital raised shares of CervoMed to a “strong-buy” rating in a report on Thursday, December 5th. Jones Trading raised CervoMed from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Thursday. D. Boral Capital reiterated a “buy” rating and issued a $10.00 price objective on shares of CervoMed in a research report on Tuesday, March 11th. Finally, Brookline Capital Management raised shares of CervoMed from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, CervoMed currently has an average rating of “Moderate Buy” and an average price target of $25.75.

About CervoMed

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.