Chardan Capital Decreases Earnings Estimates for CervoMed

CervoMed Inc. (NASDAQ:CRVO) – Investment analysts at Chardan Capital decreased their FY2025 EPS estimates for CervoMed in a research note issued to investors on Monday, March 24th. Chardan Capital analyst D. Gataulin now expects that the company will post earnings per share of ($2.68) for the year, down from their previous estimate of ($1.22). Chardan Capital currently has a “Buy” rating and a $14.00 target price on the stock. The consensus estimate for CervoMed’s current full-year earnings is ($1.88) per share.

Several other brokerages also recently commented on CRVO. HC Wainwright downgraded shares of CervoMed from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 17th. Brookline Capital Management upgraded shares of CervoMed from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 11th. Roth Mkm boosted their price objective on shares of CervoMed from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, March 18th. Morgan Stanley reiterated an “underweight” rating on shares of CervoMed in a research note on Wednesday, December 11th. Finally, Roth Capital upgraded CervoMed to a “strong-buy” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CervoMed presently has a consensus rating of “Moderate Buy” and an average price target of $27.50.

CervoMed Price Performance

Shares of NASDAQ:CRVO opened at $7.71 on Thursday. The business has a fifty day moving average price of $3.72 and a 200-day moving average price of $7.68. The company has a market capitalization of $67.10 million, a PE ratio of -3.80 and a beta of 1.84. CervoMed has a 1-year low of $1.80 and a 1-year high of $25.92.

CervoMed (NASDAQ:CRVO) last posted its quarterly earnings data on Monday, March 17th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.13). CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%. The company had revenue of $2.16 million for the quarter, compared to the consensus estimate of $1.51 million.

Hedge Funds Weigh In On CervoMed

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC bought a new position in CervoMed in the third quarter valued at about $56,000. State Street Corp increased its position in shares of CervoMed by 28.1% during the 3rd 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 during the last quarter. Barclays PLC lifted its stake in shares of CervoMed by 323.6% in the 3rd quarter. Barclays PLC now owns 7,748 shares of the company’s stock worth $113,000 after purchasing an additional 5,919 shares during the period. Geode Capital Management LLC boosted its holdings in shares of CervoMed by 13.9% in the third quarter. Geode Capital Management LLC now owns 114,934 shares of the company’s stock worth $1,678,000 after buying an additional 14,042 shares during the last quarter. Finally, Cornerstone Wealth Management LLC bought a new stake in CervoMed during the fourth quarter valued at approximately $48,000. 25.15% of the stock is currently owned by hedge funds and other institutional investors.

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.