CervoMed (NASDAQ:CRVO) Releases Earnings Results, Misses Expectations By $0.03 EPS

CervoMed (NASDAQ:CRVO) issued its earnings results on Monday. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.03), Zacks reports. The firm had revenue of $3.29 million during the quarter, compared to analyst estimates of $3.48 million. CervoMed had a negative net margin of 38.30% and a negative return on equity of 58.63%.

CervoMed Price Performance

NASDAQ:CRVO opened at $15.00 on Wednesday. The stock has a 50 day simple moving average of $16.37 and a 200 day simple moving average of $18.15. CervoMed has a 1-year low of $4.28 and a 1-year high of $26.38.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CRVO shares. Morgan Stanley started coverage on CervoMed in a research note on Friday, July 26th. They issued an “overweight” rating and a $35.00 price objective on the stock. Brookline Capital Management began coverage on CervoMed in a research note on Monday, July 8th. They issued a “buy” rating and a $63.00 price target on the stock. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $65.00 price objective on shares of CervoMed in a research report on Thursday, July 25th.

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.