CervoMed (NASDAQ:CRVO) Posts Earnings Results, Beats Estimates By $0.04 EPS

CervoMed (NASDAQ:CRVO) issued its quarterly earnings results on Monday. The company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.04, Zacks reports. The business had revenue of $1.92 million for the quarter, compared to the consensus estimate of $1.70 million. CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%.

CervoMed Trading Up 7.2%

CRVO traded up $0.61 during midday trading on Monday, hitting $9.10. 293,627 shares of the company were exchanged, compared to its average volume of 3,362,334. The company’s 50 day simple moving average is $8.63 and its 200 day simple moving average is $6.46. CervoMed has a 1-year low of $1.80 and a 1-year high of $25.67. The firm has a market capitalization of $79.20 million, a price-to-earnings ratio of -4.48 and a beta of -0.23.

Wall Street Analyst Weigh In

CRVO has been the topic of a number of recent analyst reports. Chardan Capital raised CervoMed from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Thursday, March 13th. Canaccord Genuity Group upped their target price on CervoMed from $12.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. Roth Mkm upped their target price on CervoMed from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. D. Boral Capital reissued a “buy” rating and issued a $10.00 target price on shares of CervoMed in a research report on Wednesday, March 26th. Finally, Brookline Capital Management raised CervoMed from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.50.

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.