CervoMed (NASDAQ:CRVO) Posts Quarterly Earnings Results, Misses Expectations By $0.14 EPS

CervoMed (NASDAQ:CRVO) issued its quarterly earnings results 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. The firm had revenue of $1.94 million for the quarter, compared to analyst estimates of $1.75 million. CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%.

CervoMed Stock Performance

Shares of CervoMed stock opened at $10.92 on Friday. CervoMed has a 1 year low of $5.85 and a 1 year high of $26.38. The business has a 50-day moving average of $14.07 and a two-hundred day moving average of $16.70.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CRVO. Chardan Capital reaffirmed a “buy” rating and issued a $55.00 target price on shares of CervoMed in a research note on Thursday. Morgan Stanley started coverage on shares of CervoMed in a research report on Friday, July 26th. They set an “overweight” rating and a $35.00 target price for the company. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $65.00 price target on shares of CervoMed in a research report on Thursday, July 25th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price 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.