CervoMed Inc. Forecasted to Earn FY2024 Earnings of ($1.34) Per Share (NASDAQ:CRVO)

CervoMed Inc. (NASDAQ:CRVO) – Research analysts at Chardan Capital issued their FY2024 earnings estimates for shares of CervoMed in a report released on Wednesday, September 18th. Chardan Capital analyst D. Gataulin anticipates that the company will post earnings of ($1.34) per share for the year. Chardan Capital has a “Buy” rating and a $55.00 price objective 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.

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

CervoMed Stock Down 3.6 %

Shares of CervoMed stock opened at $16.84 on Monday. CervoMed has a fifty-two week low of $4.28 and a fifty-two week high of $26.38. The company has a fifty day moving average of $15.58 and a 200 day moving average of $18.98.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRVO. RA Capital Management L.P. purchased a new stake in shares of CervoMed during the first quarter worth about $20,075,000. Ikarian Capital LLC acquired a new stake in shares of CervoMed during the first quarter worth $5,530,000. Crown Advisors Management Inc. acquired a new stake in shares of CervoMed during the first quarter worth $2,330,000. Citizens Financial Group Inc. RI purchased a new stake in shares of CervoMed during the second quarter valued at $461,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of CervoMed in the 2nd quarter valued at $236,000. 25.15% of the stock is currently owned by hedge funds and other institutional investors.

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.