Contineum Therapeutics (NASDAQ:CTNM) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Contineum Therapeutics (NASDAQ:CTNM) posted its quarterly earnings results on Tuesday. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.04), FiscalAI reports.

Contineum Therapeutics Stock Performance

CTNM traded up $0.13 on Tuesday, hitting $9.69. The company had a trading volume of 525,812 shares, compared to its average volume of 457,150. The stock has a fifty day moving average price of $12.55 and a 200-day moving average price of $13.52. Contineum Therapeutics has a 12-month low of $6.72 and a 12-month high of $17.78. The stock has a market capitalization of $364.54 million, a price-to-earnings ratio of -5.60 and a beta of 0.86.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CTNM. Royal Bank Of Canada lifted their target price on Contineum Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. JonesTrading raised their price target on Contineum Therapeutics from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, October 15th. Wall Street Zen downgraded Contineum Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, September 19th. Stifel Nicolaus set a $28.00 price objective on Contineum Therapeutics in a report on Wednesday, September 30th. Finally, Morgan Stanley lowered their price objective on shares of Contineum Therapeutics from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Monday, September 28th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $22.33.

About Contineum Therapeutics

Contineum Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for neurological and neuroinflammatory diseases. The company’s research is centered on restoring nervous-system function and addressing conditions in which inflammation or damage to myelin contributes to disease progression.

Contineum’s lead programs include PIPE-307, an oral, selective M1 muscarinic receptor antagonist being studied for its potential to promote remyelination in multiple sclerosis, and PIPE-791, an oral, central nervous system-penetrant LPA1 antagonist being developed for progressive multiple sclerosis and other fibrotic or neuroinflammatory conditions.