HC Wainwright Forecasts CervoMed FY2024 Earnings

CervoMed Inc. (NASDAQ:CRVO) – Equities research analysts at HC Wainwright issued their FY2024 EPS estimates for CervoMed in a research report issued on Thursday, December 5th. HC Wainwright analyst R. Selvaraju expects that the company will post earnings per share of ($1.76) for the year. HC Wainwright currently has a “Buy” rating and a $42.00 price target on the stock. The consensus estimate for CervoMed’s current full-year earnings is ($1.73) per share. HC Wainwright also issued estimates for CervoMed’s FY2025 earnings at ($2.51) EPS.

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

Several other research firms also recently weighed in on CRVO. Roth Capital raised CervoMed to a “strong-buy” rating in a research report on Thursday. D. Boral Capital reiterated a “buy” rating and set a $34.00 price objective on shares of CervoMed in a research report on Wednesday, November 27th. Roth Mkm began coverage on shares of CervoMed in a report on Friday. They issued a “buy” rating and a $45.00 target price on the stock. Finally, Chardan Capital reaffirmed a “buy” rating and set a $55.00 price target on shares of CervoMed in a research note on Thursday, November 14th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $48.63.

CervoMed Stock Up 22.5 %

Shares of NASDAQ CRVO opened at $11.91 on Monday. The firm’s 50-day moving average is $12.07 and its two-hundred day moving average is $15.03. CervoMed has a 12-month low of $5.85 and a 12-month high of $26.38.

Hedge Funds Weigh In On CervoMed

Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp purchased a new stake in shares of CervoMed during the 2nd quarter worth about $236,000. Rhumbline Advisers acquired a new position in CervoMed during the second quarter valued at approximately $96,000. Citizens Financial Group Inc. RI purchased a new stake in CervoMed during the second quarter worth approximately $461,000. Renaissance Technologies LLC raised its stake in shares of CervoMed by 5.2% in the 2nd quarter. Renaissance Technologies LLC now owns 32,333 shares of the company’s stock valued at $554,000 after acquiring an additional 1,600 shares during the period. Finally, Fred Alger Management LLC acquired a new position in shares of CervoMed during the 2nd quarter valued at $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.