CervoMed (NASDAQ:CRVO) Announces Earnings Results

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

CervoMed Price Performance

CRVO stock traded down $0.30 during mid-day trading on Thursday, hitting $10.92. 53,568 shares of the company were exchanged, compared to its average volume of 56,474. The firm has a fifty day simple moving average of $14.07 and a 200 day simple moving average of $16.70. CervoMed has a twelve month low of $5.85 and a twelve month high of $26.38.

Wall Street Analysts Forecast Growth

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

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.