CervoMed Inc. Expected to Post FY2024 Earnings of ($1.34) Per Share (NASDAQ:CRVO)

CervoMed Inc. (NASDAQ:CRVO) – Stock analysts at Chardan Capital issued their FY2024 earnings estimates for shares of CervoMed in a research report issued to clients and investors on Wednesday, September 18th. Chardan Capital analyst D. Gataulin forecasts that the company will post earnings of ($1.34) per share for the year. Chardan Capital has a “Buy” rating and a $55.00 price objective on the stock. The consensus estimate for CervoMed’s current full-year earnings is ($1.49) per share. Chardan Capital also issued estimates for CervoMed’s FY2025 earnings at ($1.26) EPS.

A number of other equities research analysts also recently commented on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $65.00 target price on shares of CervoMed in a research report on Thursday, July 25th. Morgan Stanley assumed coverage on shares of CervoMed in a research note on Friday, July 26th. They set an “overweight” rating and a $35.00 price target on the stock. Finally, Brookline Capital Management assumed coverage on shares of CervoMed in a research note on Monday, July 8th. They set a “buy” rating and a $63.00 price target on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $53.60.

CervoMed Stock Down 2.6 %

NASDAQ:CRVO opened at $15.20 on Monday. CervoMed has a 12 month low of $4.28 and a 12 month high of $26.38. The company has a 50 day simple moving average of $15.44 and a two-hundred day simple moving average of $18.97.

CervoMed (NASDAQ:CRVO) last posted its earnings results on Monday, August 12th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). CervoMed had a negative return on equity of 27.91% and a negative net margin of 52.24%. The company had revenue of $3.29 million during the quarter, compared to the consensus estimate of $3.48 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Fred Alger Management LLC purchased a new position in shares of CervoMed during the 2nd quarter valued at $60,000. Renaissance Technologies LLC lifted its stake in shares of CervoMed by 5.2% during the 2nd quarter. Renaissance Technologies LLC now owns 32,333 shares of the company’s stock valued at $554,000 after buying an additional 1,600 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new position in shares of CervoMed during the 2nd quarter valued at $461,000. Rhumbline Advisers purchased a new position in shares of CervoMed during the 2nd quarter valued at $96,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of CervoMed during the 2nd quarter valued at $236,000. Hedge funds and other institutional investors own 25.15% of the company’s stock.

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.