HC Wainwright Brokers Reduce Earnings Estimates for CervoMed

CervoMed Inc. (NASDAQ:CRVO) – Investment analysts at HC Wainwright reduced their FY2024 EPS estimates for CervoMed in a research report issued to clients and investors on Tuesday, December 17th. HC Wainwright analyst R. Selvaraju now forecasts that the company will earn ($1.86) per share for the year, down from their previous forecast of ($1.76). HC Wainwright currently 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 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 net margin of 118.68% and a negative return on equity of 44.11%. The firm had revenue of $1.94 million during the quarter, compared to analyst estimates of $1.75 million.

CRVO has been the subject of a number of other reports. Brookline Capital Management downgraded CervoMed from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Morgan Stanley reiterated an “underweight” rating on shares of CervoMed in a report on Wednesday, December 11th. Canaccord Genuity Group lowered 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 Capital upgraded shares of CervoMed to a “strong-buy” rating in a research report on Thursday, December 5th. Finally, Roth Mkm assumed coverage on shares of CervoMed in a research note on Friday, December 6th. They set a “buy” rating and a $45.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $42.00.

CervoMed Stock Up 11.5 %

CRVO opened at $2.23 on Thursday. CervoMed has a 12-month low of $1.80 and a 12-month high of $26.38. The firm’s fifty day moving average price is $10.16 and its 200 day moving average price is $14.08.

Institutional Trading of CervoMed

Several large investors have recently added to or reduced their stakes in the business. FMR LLC acquired a new stake in shares of CervoMed in the 3rd quarter worth approximately $56,000. Fred Alger Management LLC acquired a new stake in shares of CervoMed during the 2nd quarter valued at $60,000. Rhumbline Advisers acquired a new position in shares of CervoMed in the 2nd quarter valued at $96,000. Barclays PLC raised its holdings in shares of CervoMed by 323.6% during the third quarter. Barclays PLC now owns 7,748 shares of the company’s stock valued at $113,000 after acquiring an additional 5,919 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in CervoMed during the 2nd quarter valued at $236,000. 25.15% of the stock is currently owned by institutional investors and hedge funds.

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.