CervoMed (NASDAQ:CRVO) Posts Earnings Results, Beats Expectations By $0.10 EPS

CervoMed (NASDAQ:CRVO) announced its quarterly earnings results on Friday. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.10, FiscalAI reports.

CervoMed Trading Down 2.1%

CRVO stock traded down $0.03 during midday trading on Friday, reaching $1.42. 586,927 shares of the company’s stock traded hands, 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 stock has a market cap of $21.47 million, a P/E ratio of -0.44 and a beta of -0.62. The stock’s 50-day moving average is $2.44 and its 200 day moving average is $3.40.

Wall Street Analyst Weigh In

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

CervoMed Company Profile

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.