CervoMed (NASDAQ:CRVO) Announces Quarterly Earnings Results

CervoMed (NASDAQ:CRVO) posted its quarterly earnings data on Friday. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.10, FiscalAI reports.

CervoMed Stock Down 2.1%

Shares of CervoMed stock traded down $0.03 on Friday, reaching $1.42. The company’s stock had a trading volume of 586,927 shares, compared to its average volume of 335,973. CervoMed has a 52 week low of $1.27 and a 52 week high of $10.00. The firm’s fifty day simple moving average is $2.44 and its two-hundred day simple moving average is $3.40. The company has a market capitalization of $21.47 million, a price-to-earnings ratio of -0.44 and a beta of -0.62.

Analysts Set New Price Targets

A number of research analysts have recently commented on CRVO shares. Roth Capital set a $7.00 target price on CervoMed in a research note on Thursday, August 20th. Wall Street Zen raised CervoMed from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Chardan Capital upgraded CervoMed to a “strong-buy” rating in a report on Monday, August 3rd. HC Wainwright reiterated a “buy” rating on shares of CervoMed in a report on Monday, October 5th. Finally, Weiss Ratings lowered CervoMed from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $21.00.

About CervoMed

CervoMed Inc is a clinical-stage biopharmaceutical company focused on developing treatments for neurodegenerative diseases. The company’s lead investigational product is neflamapimod, an orally administered, brain-penetrant small-molecule inhibitor of p38 alpha, an enzyme believed to play a role in neuroinflammation and cognitive decline.

CervoMed is primarily evaluating neflamapimod as a potential treatment for dementia with Lewy bodies, a progressive neurological disorder associated with cognitive impairment, fluctuations in attention, visual hallucinations and movement symptoms.