Equities Analysts Offer Predictions for CervoMed Inc.’s FY2024 Earnings (NASDAQ:CRVO)

CervoMed Inc. (NASDAQ:CRVO) – Research analysts at Chardan Capital issued their FY2024 earnings per share estimates for CervoMed in a research note issued on Wednesday, September 18th. Chardan Capital analyst D. Gataulin anticipates that the company will earn ($1.34) per share for the year. Chardan Capital currently has a “Buy” rating and a $55.00 target price on the stock. The consensus estimate for CervoMed’s current full-year earnings is ($1.49) per share. Chardan Capital also issued estimates for CervoMed’s FY2025 earnings at ($1.26) EPS.

CervoMed (NASDAQ:CRVO) last issued its earnings results on Monday, August 12th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.03). The firm had revenue of $3.29 million during the quarter, compared to analysts’ expectations of $3.48 million. CervoMed had a negative return on equity of 27.91% and a negative net margin of 52.24%.

Other analysts have also issued research reports about the company. Morgan Stanley began coverage on CervoMed in a report on Friday, July 26th. They issued an “overweight” rating and a $35.00 target price for the company. Canaccord Genuity Group reissued a “buy” rating and issued a $65.00 target price on shares of CervoMed in a research report on Thursday, July 25th. Finally, Brookline Capital Management began coverage on shares of CervoMed in a report on Monday, July 8th. They set a “buy” rating and a $63.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CervoMed presently has an average rating of “Buy” and a consensus price target of $53.60.

CervoMed Price Performance

Shares of CRVO opened at $15.60 on Monday. CervoMed has a twelve month low of $4.28 and a twelve month high of $26.38. The firm has a 50 day moving average of $15.53 and a 200 day moving average of $18.98.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Crown Advisors Management Inc. purchased a new stake in shares of CervoMed during the 1st quarter valued at about $2,330,000. Ikarian Capital LLC bought a new position in CervoMed in the first quarter worth approximately $5,530,000. RA Capital Management L.P. bought a new position in CervoMed in the first quarter worth approximately $20,075,000. Bank of New York Mellon Corp purchased a new position in shares of CervoMed during the 2nd quarter worth $236,000. Finally, Rhumbline Advisers bought a new stake in shares of CervoMed during the 2nd quarter valued at $96,000. Institutional investors own 25.15% of the company’s stock.

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.