CervoMed FY2024 EPS Reduced by Brookline Capital Management

CervoMed Inc. (NASDAQ:CRVO) – Equities researchers at Brookline Capital Management dropped their FY2024 earnings per share (EPS) estimates for CervoMed in a research report issued to clients and investors on Tuesday, November 12th. Brookline Capital Management analyst T. Bussian now forecasts that the company will post earnings per share of ($1.88) for the year, down from their previous forecast of ($1.40). The consensus estimate for CervoMed’s current full-year earnings is ($1.45) per share. Brookline Capital Management also issued estimates for CervoMed’s Q4 2024 earnings at ($0.78) EPS.

A number of other analysts have also recently issued reports on the stock. Chardan Capital reiterated a “buy” rating and issued a $55.00 target price on shares of CervoMed in a research note on Thursday. Morgan Stanley initiated coverage on shares of CervoMed in a research note on Friday, July 26th. They issued an “overweight” rating and a $35.00 price objective for the company. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $65.00 price target on shares of CervoMed in a research report on Thursday, July 25th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $53.60.

CervoMed Trading Down 1.4 %

CervoMed stock opened at $10.77 on Friday. CervoMed has a twelve month low of $5.85 and a twelve month high of $26.38. The firm’s 50 day moving average price is $13.99 and its two-hundred day moving average price is $16.66.

CervoMed (NASDAQ:CRVO) last issued 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 business had revenue of $1.94 million during the quarter, compared to analyst estimates of $1.75 million. CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%.

Hedge Funds Weigh In On CervoMed

Institutional investors have recently made changes to their positions in the business. Crown Advisors Management Inc. acquired a new position in CervoMed during the 1st quarter valued at $2,330,000. Ikarian Capital LLC acquired a new position in shares of CervoMed during the first quarter valued at about $5,530,000. RA Capital Management L.P. bought a new stake in shares of CervoMed in the first quarter valued at about $20,075,000. Bank of New York Mellon Corp acquired a new stake in CervoMed during the second quarter worth about $236,000. Finally, Rhumbline Advisers bought a new position in CervoMed during the second quarter valued at about $96,000. 25.15% of the stock is currently owned by institutional investors.

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.