FY2024 EPS Estimates for CervoMed Lifted by Analyst

CervoMed Inc. (NASDAQ:CRVO) – Equities research analysts at Brookline Capital Management lifted their FY2024 earnings per share (EPS) estimates for shares of CervoMed in a report issued on Tuesday, March 11th. Brookline Capital Management analyst T. Bussian now forecasts that the company will post earnings per share of ($1.80) for the year, up from their prior forecast of ($1.88). Brookline Capital Management currently has a “Strong-Buy” rating on the stock. The consensus estimate for CervoMed’s current full-year earnings is ($1.88) per share. Brookline Capital Management also issued estimates for CervoMed’s Q4 2024 earnings at ($0.70) EPS, Q1 2025 earnings at ($0.48) EPS, Q4 2025 earnings at ($0.39) EPS and FY2025 earnings at ($1.71) EPS.

Other research analysts have also issued reports about the stock. Canaccord Genuity Group decreased their price target on shares of CervoMed from $65.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. D. Boral Capital reaffirmed a “buy” rating and set a $10.00 target price on shares of CervoMed in a research note on Tuesday. HC Wainwright lowered shares of CervoMed from a “buy” rating to a “neutral” rating in a report on Tuesday, December 17th. Morgan Stanley restated an “underweight” rating on shares of CervoMed in a research note on Wednesday, December 11th. Finally, Jones Trading upgraded CervoMed from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, CervoMed currently has an average rating of “Moderate Buy” and a consensus price target of $25.75.

CervoMed Trading Up 11.2 %

CRVO opened at $6.44 on Thursday. CervoMed has a 12-month low of $1.80 and a 12-month high of $26.38. The stock has a fifty day simple moving average of $2.45 and a two-hundred day simple moving average of $8.10.

Institutional Trading of CervoMed

Several institutional investors have recently added to or reduced their stakes in CRVO. Virtu Financial LLC bought a new position in shares of CervoMed during the fourth quarter valued at $26,000. DRW Securities LLC purchased a new position in CervoMed in the 4th quarter worth about $30,000. Mariner LLC bought a new position in CervoMed during the 4th quarter valued at about $30,000. BNP Paribas Financial Markets bought a new position in CervoMed during the 4th quarter valued at about $32,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of CervoMed by 251.8% during the 4th quarter. JPMorgan Chase & Co. now owns 14,464 shares of the company’s stock valued at $34,000 after acquiring an additional 10,352 shares during the last quarter. 25.15% of the stock is currently owned by hedge funds and other 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.