Contineum Therapeutics (NASDAQ:CTNM) Issues Quarterly Earnings Results

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

Contineum Therapeutics Stock Performance

Shares of NASDAQ:CTNM traded up $0.13 during midday trading on Tuesday, hitting $9.69. 525,812 shares of the stock were exchanged, compared to its average volume of 456,986. The business’s 50-day moving average price is $12.55 and its 200 day moving average price is $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 Analyst Weigh In

A number of brokerages have issued reports on CTNM. Stifel Nicolaus set a $28.00 price objective on shares of Contineum Therapeutics in a research note on Wednesday, September 30th. Robert W. Baird cut shares of Contineum Therapeutics from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $19.00 to $14.00 in a research report on Tuesday, October 13th. Morgan Stanley dropped their target price on shares of Contineum Therapeutics from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Monday, September 28th. JonesTrading upped their price target on shares of Contineum Therapeutics from $24.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, October 15th. Finally, Royal Bank Of Canada increased their price target on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Contineum Therapeutics presently has an average rating of “Hold” and a consensus price target 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.