CervoMed (NASDAQ:CRVO) Issues Earnings Results

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

CervoMed Price Performance

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

Analyst Ratings Changes

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