Contineum Therapeutics (NASDAQ:CTNM) Announces Earnings Results

Contineum Therapeutics (NASDAQ:CTNM) released its earnings results on Tuesday. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.02), Zacks reports.

Contineum Therapeutics Stock Performance

Shares of NASDAQ CTNM traded up $1.31 during trading hours on Thursday, hitting $18.59. 11,032 shares of the company’s stock were exchanged, compared to its average volume of 82,694. The firm has a 50-day moving average of $19.16. Contineum Therapeutics has a 1-year low of $13.27 and a 1-year high of $22.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada increased their target price on shares of Contineum Therapeutics from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday. Morgan Stanley initiated coverage on Contineum Therapeutics in a research note on Tuesday, April 30th. They set an “overweight” rating and a $25.00 price target for the company. Finally, Stifel Nicolaus began coverage on Contineum Therapeutics in a report on Tuesday, April 30th. They issued a “buy” rating and a $29.00 target price for the company.

Contineum Therapeutics Company Profile

Contineum Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on discovering and developing novel oral small molecule therapies for neuroscience, inflammation, and immunology indications with high unmet need. Its lead asset is PIPE-791, a novel, brain penetrant, small molecule inhibitor of the lysophosphatidic acid 1 receptor (LPA1R) for the treatment of idiopathic pulmonary fibrosis and progressive multiple sclerosis (MS).