HC Wainwright Comments on CervoMed FY2024 Earnings

CervoMed Inc. (NASDAQ:CRVO) – Investment analysts at HC Wainwright issued their FY2024 earnings per share (EPS) estimates for shares of CervoMed in a report issued on Thursday, December 5th. HC Wainwright analyst R. Selvaraju expects that the company will earn ($1.76) per share for the year. HC Wainwright currently has a “Buy” rating and a $42.00 target price on the stock. The consensus estimate for CervoMed’s current full-year earnings is ($1.74) per share. HC Wainwright also issued estimates for CervoMed’s FY2025 earnings at ($2.51) EPS.

Several other analysts have also issued reports on the stock. D. Boral Capital restated a “buy” rating and set a $34.00 target price on shares of CervoMed in a research report on Wednesday, November 27th. Roth Capital raised shares of CervoMed to a “strong-buy” rating in a research report on Thursday, December 5th. Chardan Capital reaffirmed a “buy” rating and issued a $55.00 target price on shares of CervoMed in a report on Thursday, November 14th. Finally, Roth Mkm assumed coverage on CervoMed in a research report on Friday. They set a “buy” rating and a $45.00 target price on the stock. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $48.63.

CervoMed Stock Down 13.9 %

NASDAQ CRVO opened at $10.25 on Monday. The company has a 50-day moving average price of $11.99 and a 200-day moving average price of $14.97. CervoMed has a 52 week low of $5.85 and a 52 week high of $26.38.

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

Institutional Investors Weigh In On CervoMed

A number of institutional investors and hedge funds have recently bought and sold shares of CRVO. Barclays PLC grew its position in shares of CervoMed by 323.6% during 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 in the last quarter. Geode Capital Management LLC boosted its stake in CervoMed by 13.9% in the 3rd quarter. Geode Capital Management LLC now owns 114,934 shares of the company’s stock worth $1,678,000 after purchasing an additional 14,042 shares during the period. State Street Corp grew its holdings in CervoMed by 28.1% during the 3rd quarter. State Street Corp now owns 104,456 shares of the company’s stock valued at $1,525,000 after buying an additional 22,903 shares in the last quarter. FMR LLC purchased a new stake in CervoMed during the 3rd quarter valued at approximately $56,000. Finally, Citizens Financial Group Inc. RI raised its position in shares of CervoMed by 13.2% during the third quarter. Citizens Financial Group Inc. RI now owns 30,509 shares of the company’s stock valued at $445,000 after buying an additional 3,553 shares during the last quarter. 25.15% of the stock is owned by institutional investors.

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.