CervoMed (NASDAQ:CRVO) Releases Earnings Results, Misses Expectations By $0.14 EPS

CervoMed (NASDAQ:CRVO) released 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. CervoMed had a negative return on equity of 57.17% and a negative net margin of 118.68%. The company had revenue of $1.94 million for the quarter, compared to the consensus estimate of $1.75 million.

CervoMed Trading Down 1.1 %

CRVO traded down $0.12 during trading on Thursday, reaching $11.10. 18,061 shares of the company’s stock were exchanged, compared to its average volume of 56,313. The firm has a fifty day moving average price of $14.07 and a two-hundred day moving average price of $16.70. CervoMed has a one year low of $5.85 and a one year high of $26.38.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $65.00 target price on shares of CervoMed in a research note on Thursday, July 25th. Morgan Stanley assumed coverage on CervoMed in a research note on Friday, July 26th. They set an “overweight” rating and a $35.00 target price on the stock. Finally, Chardan Capital assumed coverage on CervoMed in a report on Wednesday, September 18th. They issued a “buy” rating and a $55.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, CervoMed currently has an average rating of “Buy” and an average target price 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.