Chardan Capital Brokers Cut Earnings Estimates for CervoMed

CervoMed Inc. (NASDAQ:CRVO) – Analysts at Chardan Capital dropped their FY2025 earnings estimates for CervoMed in a report released on Monday, March 24th. Chardan Capital analyst D. Gataulin now anticipates that the company will earn ($2.68) per share for the year, down from their prior forecast 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.

A number of other research firms have also recently weighed in on CRVO. Roth Mkm upped their price objective on shares of CervoMed from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. Jones Trading raised shares of CervoMed from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Thursday, March 13th. HC Wainwright cut CervoMed from a “buy” rating to a “neutral” rating in a report on Tuesday, December 17th. Brookline Capital Management upgraded CervoMed from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 11th. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $10.00 price target on shares of CervoMed in a research note on Wednesday. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, CervoMed has a consensus rating of “Moderate Buy” and an average target price of $27.50.

CervoMed Price Performance

Shares of NASDAQ:CRVO opened at $9.48 on Thursday. The firm has a market capitalization of $82.50 million, a price-to-earnings ratio of -4.67 and a beta of 1.84. The business’s 50 day moving average price is $4.00 and its 200-day moving average price is $7.64. CervoMed has a 1 year low of $1.80 and a 1 year high of $25.92.

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

Institutional Investors Weigh In On CervoMed

A number of large investors have recently made changes to their positions in CRVO. Geode Capital Management LLC grew its holdings in CervoMed by 13.9% in the 3rd quarter. Geode Capital Management LLC now owns 114,934 shares of the company’s stock valued at $1,678,000 after buying an additional 14,042 shares in the last quarter. State Street Corp grew its holdings in shares of CervoMed by 28.1% in the third 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 period. Woodline Partners LP acquired a new stake in CervoMed during the fourth quarter worth about $175,000. Perigon Wealth Management LLC purchased a new position in CervoMed during the fourth quarter worth about $147,000. Finally, Nuveen Asset Management LLC boosted its holdings in CervoMed by 113.6% in the 4th quarter. Nuveen Asset Management LLC now owns 41,569 shares of the company’s stock valued at $97,000 after purchasing an additional 22,104 shares during the last quarter. 25.15% of the stock is currently owned by hedge funds and other institutional investors.

About CervoMed

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.