CervoMed (NASDAQ:CRVO) Announces Earnings Results, Beats Estimates By $0.10 EPS

CervoMed (NASDAQ:CRVO) released its earnings results on Friday. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.10, FiscalAI reports.

CervoMed Stock Down 2.1%

Shares of NASDAQ CRVO traded down $0.03 during mid-day trading on Friday, hitting $1.42. 586,927 shares of the company traded hands, compared to its average volume of 335,973. CervoMed has a 1 year low of $1.27 and a 1 year high of $10.00. The stock has a market capitalization of $21.47 million, a price-to-earnings ratio of -0.44 and a beta of -0.62. The business has a 50 day moving average of $2.44 and a two-hundred day moving average of $3.40.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CRVO shares. Chardan Capital raised shares of CervoMed to a “strong-buy” rating in a report on Monday, August 3rd. Weiss Ratings cut shares of CervoMed from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, September 3rd. Wall Street Zen upgraded shares of CervoMed from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Roth Capital set a $7.00 target price on shares of CervoMed in a research note on Thursday, August 20th. Finally, HC Wainwright reissued a “buy” rating on shares of CervoMed in a research note on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, CervoMed has an average rating of “Moderate Buy” and an average target price of $21.00.

About CervoMed

CervoMed Inc is a clinical-stage biopharmaceutical company focused on developing treatments for neurodegenerative diseases. The company’s lead investigational product is neflamapimod, an orally administered, brain-penetrant small-molecule inhibitor of p38 alpha, an enzyme believed to play a role in neuroinflammation and cognitive decline.

CervoMed is primarily evaluating neflamapimod as a potential treatment for dementia with Lewy bodies, a progressive neurological disorder associated with cognitive impairment, fluctuations in attention, visual hallucinations and movement symptoms.