FY2024 EPS Estimates for CervoMed Reduced by HC Wainwright

CervoMed Inc. (NASDAQ:CRVO) – Analysts at HC Wainwright reduced their FY2024 EPS estimates for shares of CervoMed in a research note issued to investors on Tuesday, December 17th. HC Wainwright analyst R. Selvaraju now expects that the company will post earnings of ($1.86) per share for the year, down from their prior forecast of ($1.76). HC Wainwright has a “Neutral” rating on the stock. The consensus estimate for CervoMed’s current full-year earnings is ($1.77) per share. HC Wainwright also issued estimates for CervoMed’s Q4 2024 earnings at ($0.63) EPS, Q1 2025 earnings at ($0.54) EPS, Q2 2025 earnings at ($0.50) EPS, Q3 2025 earnings at ($0.41) EPS, Q4 2025 earnings at ($0.32) EPS and FY2025 earnings at ($1.77) EPS.

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

CRVO has been the subject of several other reports. Canaccord Genuity Group cut their target price on shares of CervoMed from $65.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Roth Mkm initiated coverage on shares of CervoMed in a report on Friday, December 6th. They set a “buy” rating and a $45.00 price objective on the stock. Chardan Capital reiterated a “neutral” rating on shares of CervoMed in a research note on Wednesday, December 11th. Roth Capital upgraded CervoMed to a “strong-buy” rating in a research note on Thursday, December 5th. Finally, Brookline Capital Management downgraded CervoMed from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, CervoMed currently has an average rating of “Hold” and a consensus price target of $42.00.

CervoMed Price Performance

CRVO opened at $2.23 on Thursday. The business has a 50 day moving average of $10.16 and a 200-day moving average of $14.08. CervoMed has a 1-year low of $1.80 and a 1-year high of $26.38.

Institutional Trading of CervoMed

Institutional investors have recently bought and sold shares of the stock. Citizens Financial Group Inc. RI bought a new position in CervoMed during the 2nd quarter valued at about $461,000. Renaissance Technologies LLC grew its holdings in CervoMed by 5.2% during the 2nd quarter. Renaissance Technologies LLC now owns 32,333 shares of the company’s stock worth $554,000 after acquiring an additional 1,600 shares during the last quarter. Rhumbline Advisers acquired a new stake in CervoMed in the 2nd quarter valued at about $96,000. Bank of New York Mellon Corp acquired a new position in shares of CervoMed during the second quarter worth approximately $236,000. Finally, Fred Alger Management LLC bought a new stake in shares of CervoMed during the second quarter valued at approximately $60,000. Institutional investors and hedge funds own 25.15% of the company’s stock.

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.