CervoMed (NASDAQ:CRVO – Get Free Report) issued 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%
Shares of NASDAQ:CRVO traded down $0.03 during mid-day trading on Friday, reaching $1.42. The company had a trading volume of 586,927 shares, compared to its average volume of 335,973. The firm has a market cap of $21.47 million, a price-to-earnings ratio of -0.44 and a beta of -0.62. The company’s 50-day moving average price is $2.44 and its 200-day moving average price is $3.40. CervoMed has a one year low of $1.27 and a one year high of $10.00.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on CRVO. Roth Capital set a $7.00 price objective on CervoMed in a research note on Thursday, August 20th. Weiss Ratings cut CervoMed from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, September 3rd. HC Wainwright reissued a “buy” rating on shares of CervoMed in a report on Monday, October 5th. Wall Street Zen upgraded shares of CervoMed from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Chardan Capital upgraded shares of CervoMed to a “strong-buy” rating in a research report on Monday, August 3rd. One 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.
View Our Latest Analysis on CRVO
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.
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