CervoMed (NASDAQ:CRVO) Releases Earnings Results, Misses Estimates By $0.13 EPS

CervoMed (NASDAQ:CRVO) posted its earnings results on Monday. The company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.13), Zacks reports. The company had revenue of $2.16 million during the quarter, compared to analysts’ expectations of $1.51 million. CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%.

CervoMed Stock Performance

CRVO stock opened at $9.05 on Tuesday. CervoMed has a one year low of $1.80 and a one year high of $26.38. The company has a fifty day moving average of $2.59 and a 200-day moving average of $7.93.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CRVO shares. Brookline Capital Management raised shares of CervoMed from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Morgan Stanley reiterated an “underweight” rating on shares of CervoMed in a research note on Wednesday, December 11th. Canaccord Genuity Group decreased their price target on shares of CervoMed from $65.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Jones Trading upgraded shares of CervoMed from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Thursday, March 13th. Finally, HC Wainwright cut shares of CervoMed from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 17th. 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. Based on data from MarketBeat, CervoMed currently has an average rating of “Moderate Buy” and an average target price of $25.75.

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.