FY2024 EPS Forecast for CervoMed Increased by Analyst

CervoMed Inc. (NASDAQ:CRVO) – Equities research analysts at Brookline Capital Management raised their FY2024 EPS estimates for CervoMed in a research note issued on Tuesday, March 11th. Brookline Capital Management analyst T. Bussian now anticipates that the company will post earnings of ($1.80) per share for the year, up from their previous forecast of ($1.88). Brookline Capital Management has a “Strong-Buy” rating on the stock. The consensus estimate for CervoMed’s current full-year earnings is ($1.88) per share. Brookline Capital Management also issued estimates for CervoMed’s Q4 2024 earnings at ($0.70) EPS, Q1 2025 earnings at ($0.48) EPS, Q4 2025 earnings at ($0.39) EPS and FY2025 earnings at ($1.71) EPS.

A number of other equities research analysts have also issued reports on the company. D. Boral Capital reiterated a “buy” rating and issued a $10.00 price target on shares of CervoMed in a research note on Tuesday. HC Wainwright lowered CervoMed from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 17th. Morgan Stanley reissued an “underweight” rating on shares of CervoMed in a research note on Wednesday, December 11th. Roth Mkm upped their price target on CervoMed from $7.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Jones Trading raised shares of CervoMed from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.75.

CervoMed Stock Performance

Shares of CRVO stock opened at $5.79 on Thursday. CervoMed has a one year low of $1.80 and a one year high of $26.38. The company’s fifty day moving average price is $2.37 and its 200-day moving average price is $8.18.

Institutional Trading of CervoMed

A number of large investors have recently added to or reduced their stakes in CRVO. Geode Capital Management LLC boosted its position in shares of 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 acquiring an additional 14,042 shares during the last quarter. State Street Corp raised its stake in 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 purchasing an additional 22,903 shares in the last quarter. Woodline Partners LP bought a new position in CervoMed during the fourth quarter valued at $175,000. Perigon Wealth Management LLC purchased a new position in shares of CervoMed in the 4th quarter worth $147,000. Finally, Nuveen Asset Management LLC increased its holdings in shares of CervoMed by 113.6% in the 4th quarter. Nuveen Asset Management LLC now owns 41,569 shares of the company’s stock worth $97,000 after buying an additional 22,104 shares during the last quarter. Institutional investors own 25.15% of the company’s stock.

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.