HC Wainwright Estimates CervoMed FY2024 Earnings

CervoMed Inc. (NASDAQ:CRVO) – HC Wainwright issued their FY2024 EPS estimates for shares of CervoMed in a report issued on Thursday, December 5th. HC Wainwright analyst R. Selvaraju expects that the company will post earnings of ($1.76) per share for the year. HC Wainwright currently has a “Buy” rating and a $42.00 target price on the stock. The consensus estimate for CervoMed’s current full-year earnings is ($1.74) per share. HC Wainwright also issued estimates for CervoMed’s FY2025 earnings at ($2.51) EPS.

Other analysts also recently issued reports about the stock. Roth Mkm assumed coverage on shares of CervoMed in a research report on Friday. They issued a “buy” rating and a $45.00 target price on the stock. Chardan Capital reaffirmed a “buy” rating and set a $55.00 target price on shares of CervoMed in a research note on Thursday, November 14th. Roth Capital raised CervoMed to a “strong-buy” rating in a research report on Thursday, December 5th. Finally, D. Boral Capital restated a “buy” rating and issued a $34.00 price target on shares of CervoMed in a research note on Wednesday, November 27th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $48.63.

CervoMed Stock Down 13.9 %

Shares of CRVO stock opened at $10.25 on Monday. The business’s fifty day moving average is $11.99 and its 200 day moving average is $14.97. CervoMed has a twelve month low of $5.85 and a twelve month high of $26.38.

CervoMed (NASDAQ:CRVO) last posted its earnings results on Tuesday, November 12th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.14). The firm had revenue of $1.94 million for the quarter, compared to analysts’ expectations of $1.75 million. CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%.

Hedge Funds Weigh In On CervoMed

A number of hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in CervoMed by 13.9% during the 3rd quarter. Geode Capital Management LLC now owns 114,934 shares of the company’s stock valued at $1,678,000 after purchasing an additional 14,042 shares during the last quarter. State Street Corp boosted its position in shares of CervoMed by 28.1% during the third quarter. State Street Corp now owns 104,456 shares of the company’s stock valued at $1,525,000 after buying an additional 22,903 shares during the last quarter. Renaissance Technologies LLC increased its holdings in CervoMed by 5.2% in the 2nd quarter. Renaissance Technologies LLC now owns 32,333 shares of the company’s stock worth $554,000 after buying an additional 1,600 shares in the last quarter. Citizens Financial Group Inc. RI increased its holdings in CervoMed by 13.2% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 30,509 shares of the company’s stock worth $445,000 after buying an additional 3,553 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in CervoMed in the 2nd quarter worth about $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.