Research Analysts Issue Forecasts for CervoMed Inc.’s FY2024 Earnings (NASDAQ:CRVO)

CervoMed Inc. (NASDAQ:CRVO) – Stock analysts at Chardan Capital issued their FY2024 earnings estimates for CervoMed in a research report issued on Wednesday, September 18th. Chardan Capital analyst D. Gataulin forecasts that the company will post earnings per share of ($1.34) 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 brokerages also recently weighed in on CRVO. Canaccord Genuity Group reaffirmed a “buy” rating and set a $65.00 target price on shares of CervoMed in a research note on Thursday, July 25th. Morgan Stanley began coverage on shares of CervoMed in a research note on Friday, July 26th. They set an “overweight” rating and a $35.00 target price for the company. Finally, Brookline Capital Management began coverage on shares of CervoMed in a research note on Monday, July 8th. They set a “buy” rating and a $63.00 target price for the company. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $53.60.

CervoMed Stock Performance

Shares of CRVO opened at $15.20 on Monday. CervoMed has a one year low of $4.28 and a one year 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 issued its quarterly earnings data on Monday, August 12th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $3.48 million.

Institutional Investors Weigh In On CervoMed

Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC increased its position in shares of CervoMed by 5.2% during the second quarter. Renaissance Technologies LLC now owns 32,333 shares of the company’s stock valued at $554,000 after acquiring an additional 1,600 shares in the last quarter. Fred Alger Management LLC bought a new stake in shares of CervoMed during the second quarter valued at approximately $60,000. Rhumbline Advisers bought a new stake in shares of CervoMed during the second quarter valued at approximately $96,000. Bank of New York Mellon Corp bought a new stake in shares of CervoMed during the second quarter valued at approximately $236,000. Finally, Citizens Financial Group Inc. RI bought a new stake in shares of CervoMed during the second quarter valued at approximately $461,000. Institutional investors own 25.15% of the company’s stock.

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.