CervoMed FY2024 EPS Reduced by Brookline Capital Management

CervoMed Inc. (NASDAQ:CRVO) – Investment analysts at Brookline Capital Management lowered their FY2024 EPS estimates for CervoMed in a research note issued on Tuesday, November 12th. Brookline Capital Management analyst T. Bussian now forecasts that the company will post earnings per share of ($1.88) for the year, down from their prior forecast of ($1.40). The consensus estimate for CervoMed’s current full-year earnings is ($1.45) per share. Brookline Capital Management also issued estimates for CervoMed’s Q4 2024 earnings at ($0.78) EPS.

Several other analysts have also weighed in on CRVO. Morgan Stanley started coverage on shares of CervoMed in a research note on Friday, July 26th. They issued an “overweight” rating and a $35.00 price objective for the company. Canaccord Genuity Group reissued a “buy” rating and set a $65.00 price objective on shares of CervoMed in a research report on Thursday, July 25th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $55.00 target price on shares of CervoMed in a research report on Thursday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, CervoMed presently has an average rating of “Buy” and an average target price of $53.60.

CervoMed Stock Down 1.4 %

NASDAQ CRVO opened at $10.77 on Friday. The business has a 50 day simple moving average of $13.92 and a 200 day simple moving average of $16.56. CervoMed has a one year low of $5.85 and a one year high of $26.38.

CervoMed (NASDAQ:CRVO) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.14). The business had revenue of $1.94 million for the quarter, compared to analyst estimates of $1.75 million. CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CRVO. FMR LLC bought a new stake in shares of CervoMed during the third quarter worth about $56,000. Fred Alger Management LLC bought a new stake in CervoMed during the 2nd quarter worth approximately $60,000. Rhumbline Advisers bought a new stake in CervoMed during the 2nd quarter worth approximately $96,000. Barclays PLC raised its stake in shares of CervoMed by 323.6% in the third quarter. Barclays PLC now owns 7,748 shares of the company’s stock worth $113,000 after purchasing an additional 5,919 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of CervoMed in the second quarter valued at approximately $236,000. 25.15% of the stock is owned by institutional investors.

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.