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

CervoMed (NASDAQ:CRVO) announced its quarterly earnings results on Tuesday. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.94 million during the quarter, compared to the consensus estimate of $1.75 million.

CervoMed Price Performance

Shares of CRVO traded down $0.12 on Thursday, hitting $11.10. The company’s stock had a trading volume of 18,061 shares, compared to its average volume of 56,313. CervoMed has a fifty-two week low of $5.85 and a fifty-two week high of $26.38. The firm’s fifty day moving average price is $14.07 and its 200-day moving average price is $16.70.

Analysts Set New Price Targets

CRVO has been the topic of a number of recent analyst reports. Morgan Stanley started coverage on CervoMed in a research note on Friday, July 26th. They issued an “overweight” rating and a $35.00 price objective on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $65.00 price target on shares of CervoMed in a research report on Thursday, July 25th. Finally, Chardan Capital assumed coverage on shares of CervoMed in a research report on Wednesday, September 18th. They issued a “buy” rating and a $55.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CervoMed currently has an average rating of “Buy” and an average target price of $53.60.

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.