CervoMed (NASDAQ:CRVO) Issues Quarterly Earnings Results

CervoMed (NASDAQ:CRVO) announced its 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 57.17%.

CervoMed Price Performance

NASDAQ:CRVO opened at $11.39 on Thursday. The firm has a 50-day moving average price of $14.07 and a 200 day moving average price of $16.70. CervoMed has a 12-month low of $5.85 and a 12-month high of $26.38.

Analyst Ratings Changes

CRVO has been the subject of several research reports. Morgan Stanley initiated coverage on CervoMed in a report on Friday, July 26th. They set an “overweight” rating and a $35.00 price target for the company. Canaccord Genuity Group reissued a “buy” rating and issued a $65.00 target price on shares of CervoMed in a research report on Thursday, July 25th. Finally, Chardan Capital initiated coverage on shares of CervoMed in a report on Wednesday, September 18th. They set a “buy” rating and a $55.00 price target on the stock. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target 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.