CervoMed Inc. (NASDAQ:CRVO – Free Report) – Investment analysts at Brookline Capital Management issued their Q2 2024 earnings per share (EPS) estimates for shares of CervoMed in a research report issued to clients and investors on Monday, July 8th. Brookline Capital Management analyst T. Bussian anticipates that the company will post earnings per share of ($0.42) for the quarter. Brookline Capital Management currently has a “Buy” rating and a $63.00 price target on the stock. The consensus estimate for CervoMed’s current full-year earnings is ($1.34) per share. Brookline Capital Management also issued estimates for CervoMed’s Q3 2024 earnings at ($0.41) EPS, Q4 2024 earnings at ($0.44) EPS, FY2024 earnings at ($1.54) EPS and FY2025 earnings at ($3.76) EPS.
Separately, Canaccord Genuity Group lifted their target price on CervoMed from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 8th.
CervoMed Trading Up 5.6 %
NASDAQ CRVO opened at $15.93 on Wednesday. CervoMed has a 12 month low of $4.28 and a 12 month high of $26.38. The company’s fifty day moving average price is $19.72 and its two-hundred day moving average price is $17.09.
CervoMed (NASDAQ:CRVO – Get Free Report) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.05. The business had revenue of $2.35 million during the quarter, compared to analyst estimates of $2.00 million.
Hedge Funds Weigh In On CervoMed
Several hedge funds and other institutional investors have recently modified their holdings of CRVO. RA Capital Management L.P. bought a new stake in CervoMed during the 1st quarter valued at $20,075,000. Ikarian Capital LLC purchased a new position in CervoMed during the 1st quarter valued at about $5,530,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of CervoMed in the third quarter worth $921,000. Crown Advisors Management Inc. acquired a new position in CervoMed in the first quarter worth approximately $2,330,000. Finally, CWM LLC bought a new position in CervoMed during the fourth quarter valued at about $292,000. Institutional investors and hedge funds 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.
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