CervoMed (NASDAQ:CRVO) Announces Earnings Results

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

CervoMed Stock Performance

Shares of CRVO opened at $1.42 on Friday. CervoMed has a one year low of $1.27 and a one year high of $10.00. The stock’s fifty day moving average is $2.44 and its 200-day moving average is $3.40. The firm has a market capitalization of $21.47 million, a price-to-earnings ratio of -0.51 and a beta of -0.62.

Wall Street Analysts Forecast Growth

CRVO has been the topic of several recent research reports. Weiss Ratings downgraded CervoMed from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, September 3rd. Wall Street Zen upgraded CervoMed from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Chardan Capital raised CervoMed to a “strong-buy” rating in a research report on Monday, August 3rd. HC Wainwright reiterated a “buy” rating on shares of CervoMed in a research note on Monday, October 5th. Finally, Roth Capital set a $7.00 price target on shares of CervoMed in a report on Thursday, August 20th. One investment 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 stock. According to data from MarketBeat, CervoMed has a consensus 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.