CervoMed (NASDAQ:CRVO – Get Free Report) issued its quarterly earnings data on Monday. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.13), Zacks reports. The firm had revenue of $2.16 million for the quarter, compared to analyst estimates of $1.51 million. CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%.
CervoMed Trading Up 3.2 %
CervoMed stock opened at $9.34 on Wednesday. The stock has a fifty day moving average price of $2.73 and a 200 day moving average price of $7.87. CervoMed has a 52 week low of $1.80 and a 52 week high of $26.38.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. Canaccord Genuity Group lifted their price objective on CervoMed from $12.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley reaffirmed an “underweight” rating on shares of CervoMed in a report on Wednesday, December 11th. Brookline Capital Management raised CervoMed from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 11th. D. Boral Capital reissued a “buy” rating and issued a $10.00 price target on shares of CervoMed in a report on Monday. Finally, Jones Trading raised CervoMed from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.50.
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.
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