CervoMed FY2024 EPS Boosted by Brookline Capital Management

CervoMed Inc. (NASDAQ:CRVO) – Brookline Capital Management upped their FY2024 earnings per share (EPS) estimates for shares of CervoMed in a research report issued to clients and investors on Tuesday, March 11th. Brookline Capital Management analyst T. Bussian now anticipates that the company will post earnings of ($1.80) per share for the year, up from their previous forecast of ($1.88). Brookline Capital Management currently has a “Strong-Buy” rating on the stock. The consensus estimate for CervoMed’s current full-year earnings is ($1.88) per share. Brookline Capital Management also issued estimates for CervoMed’s Q4 2024 earnings at ($0.70) EPS, Q1 2025 earnings at ($0.48) EPS, Q4 2025 earnings at ($0.39) EPS and FY2025 earnings at ($1.71) EPS.

CRVO has been the topic of several other reports. HC Wainwright downgraded CervoMed from a “buy” rating to a “neutral” rating in a report on Tuesday, December 17th. D. Boral Capital restated a “buy” rating and set a $10.00 price objective on shares of CervoMed in a report on Tuesday. Roth Capital upgraded CervoMed to a “strong-buy” rating in a report on Thursday, December 5th. Chardan Capital restated a “neutral” rating on shares of CervoMed in a report on Wednesday, December 11th. Finally, Morgan Stanley restated an “underweight” rating on shares of CervoMed in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.14.

CervoMed Trading Up 161.4 %

Shares of NASDAQ:CRVO opened at $6.17 on Thursday. CervoMed has a one year low of $1.80 and a one year high of $26.38. The business’s 50-day simple moving average is $2.30 and its 200 day simple moving average is $8.20.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Citizens Financial Group Inc. RI grew its position in shares of CervoMed by 13.2% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 30,509 shares of the company’s stock worth $445,000 after acquiring an additional 3,553 shares in the last quarter. FMR LLC acquired a new position in shares of CervoMed in the 3rd quarter worth approximately $56,000. Barclays PLC grew its position in shares of CervoMed by 323.6% in the 3rd quarter. Barclays PLC now owns 7,748 shares of the company’s stock worth $113,000 after acquiring an additional 5,919 shares in the last quarter. JPMorgan Chase & Co. boosted its position in CervoMed by 251.8% during the 4th quarter. JPMorgan Chase & Co. now owns 14,464 shares of the company’s stock valued at $34,000 after purchasing an additional 10,352 shares during the period. Finally, Virtu Financial LLC acquired a new position in CervoMed during the 4th quarter valued at approximately $26,000. Institutional investors and hedge funds own 25.15% of the company’s stock.

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.