CervoMed (NASDAQ:CRVO) Issues Earnings Results, Misses Estimates By $0.14 EPS

CervoMed (NASDAQ:CRVO) released its quarterly 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. The firm had revenue of $1.94 million during the quarter, compared to analyst estimates of $1.75 million. CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%.

CervoMed Stock Performance

Shares of CRVO opened at $10.92 on Friday. The company’s fifty day simple moving average is $14.07 and its 200 day simple moving average is $16.70. CervoMed has a 1-year low of $5.85 and a 1-year high of $26.38.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Chardan Capital reissued a “buy” rating and issued a $55.00 target price on shares of CervoMed in a research report on Thursday. Morgan Stanley began coverage on shares of CervoMed in a research report on Friday, July 26th. They issued an “overweight” rating and a $35.00 price objective on the stock. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $65.00 target price on shares of CervoMed in a research report on Thursday, July 25th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, CervoMed currently has a consensus rating of “Buy” and a consensus price target 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.