CervoMed (NASDAQ:CRVO) Issues Earnings Results

CervoMed (NASDAQ:CRVO) announced its earnings results on Monday. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.13), Zacks reports. CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%.

CervoMed Stock Up 29.4 %

CRVO stock opened at $8.33 on Monday. CervoMed has a fifty-two week low of $1.80 and a fifty-two week high of $26.38. The stock’s 50 day simple moving average is $2.45 and its 200 day simple moving average is $7.98.

Analysts Set New Price Targets

CRVO has been the subject of a number of analyst reports. HC Wainwright downgraded CervoMed from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 17th. Roth Mkm raised their target price on shares of CervoMed from $7.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Chardan Capital raised shares of CervoMed from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Thursday. Brookline Capital Management raised shares of CervoMed from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Finally, Jones Trading upgraded shares of CervoMed from a “hold” rating to a “buy” rating and set a $15.00 price objective 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 assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.75.

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.