CervoMed (NASDAQ:CRVO) Releases Earnings Results, Misses Expectations 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 return on equity of 44.11% and a negative net margin of 118.68%.

CervoMed Stock Up 29.4 %

CervoMed stock opened at $8.33 on Monday. CervoMed has a one year low of $1.80 and a one year high of $26.38. The business has a fifty day moving average price of $2.45 and a 200-day moving average price of $7.98.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CRVO. Brookline Capital Management raised shares of CervoMed from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 11th. Jones Trading raised shares of CervoMed from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Thursday. Roth Mkm lifted their price target on shares of CervoMed from $7.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Chardan Capital upgraded CervoMed from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Thursday. Finally, HC Wainwright cut CervoMed from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.75.

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.