HC Wainwright Predicts CervoMed FY2024 Earnings

CervoMed Inc. (NASDAQ:CRVO - Free Report) - Equities researchers at HC Wainwright issued their FY2024 earnings estimates for shares of CervoMed in a report issued on Thursday, December 5th. HC Wainwright analyst R. Selvaraju anticipates that the company will post earnings per share of ($1.76) for the year. HC Wainwright has a "Buy" rating and a $42.00 price target 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.

A number of other brokerages have also recently issued reports on CRVO. Roth Capital upgraded CervoMed to a "strong-buy" rating in a research note on Thursday. D. Boral Capital reissued a "buy" rating and set a $34.00 price objective on shares of CervoMed in a report on Wednesday, November 27th. Roth Mkm initiated coverage on CervoMed in a report on Friday. They set a "buy" rating and a $45.00 price objective for the company. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $55.00 target price on shares of CervoMed in a research note on Thursday, November 14th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $48.63.

CervoMed Trading Down 13.9 %

CervoMed stock traded down $1.66 during midday trading on Monday, reaching $10.25. The stock had a trading volume of 384,243 shares, compared to its average volume of 68,245. CervoMed has a 12 month low of $5.85 and a 12 month high of $26.38. The firm's 50-day moving average price is $11.99 and its 200 day moving average price is $14.97.

CervoMed (NASDAQ:CRVO - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.55) EPS 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 the consensus estimate of $1.75 million. CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%.

Institutional Trading of CervoMed

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fred Alger Management LLC bought a new position in shares of CervoMed during the second quarter valued at approximately $60,000. FMR LLC bought a new position in shares of CervoMed during the third quarter valued at approximately $56,000. Rhumbline Advisers bought a new position in shares of CervoMed during the second quarter valued at approximately $96,000. Barclays PLC raised its holdings in shares of CervoMed by 323.6% during the third quarter. Barclays PLC now owns 7,748 shares of the company's stock valued at $113,000 after acquiring an additional 5,919 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of CervoMed during the second quarter valued at approximately $236,000. Institutional investors own 25.15% of the company's stock.

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.