CervoMed (NASDAQ:CRVO) Posts Earnings Results, Beats Expectations By $0.04 EPS

CervoMed (NASDAQ:CRVO - Get Free Report) issued its quarterly earnings results on Monday. The company reported ($0.56) EPS for the quarter, topping analysts' consensus estimates of ($0.60) by $0.04, Zacks reports. CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%. The firm had revenue of $1.92 million for the quarter, compared to analysts' expectations of $1.70 million.

CervoMed Stock Up 7.2%

CRVO traded up $0.61 on Monday, hitting $9.10. The company had a trading volume of 293,627 shares, compared to its average volume of 3,362,334. CervoMed has a 12-month low of $1.80 and a 12-month high of $25.67. The business's fifty day simple moving average is $8.63 and its 200 day simple moving average is $6.46. The company has a market cap of $79.20 million, a PE ratio of -4.48 and a beta of -0.23.

Analysts Set New Price Targets

CRVO has been the topic of several analyst reports. D. Boral Capital reaffirmed a "buy" rating and issued a $10.00 price objective on shares of CervoMed in a research report on Wednesday, March 26th. Roth Mkm upped their price objective on CervoMed from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. Canaccord Genuity Group raised their price target on CervoMed from $12.00 to $21.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. 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, March 13th. Finally, Brookline Capital Management upgraded CervoMed from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $27.50.

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.

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