CervoMed (NASDAQ:CRVO) Issues Earnings Results, Misses Estimates By $0.03 EPS

CervoMed (NASDAQ:CRVO) announced its quarterly earnings data on Monday. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03), Zacks reports. CervoMed had a negative net margin of 38.30% and a negative return on equity of 58.63%. The firm had revenue of $3.29 million during the quarter, compared to the consensus estimate of $3.48 million.

CervoMed Stock Up 0.9 %

NASDAQ:CRVO opened at $15.13 on Wednesday. CervoMed has a 52 week low of $4.28 and a 52 week high of $26.38. The firm’s fifty day moving average is $16.37 and its 200-day moving average is $18.15.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CRVO. Morgan Stanley began 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 reiterated a “buy” rating and issued a $65.00 price objective on shares of CervoMed in a research note on Thursday, July 25th. Finally, Brookline Capital Management began coverage on shares of CervoMed in a research note on Monday, July 8th. They issued a “buy” rating and a $63.00 price objective for the company.

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.