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

Contineum Therapeutics (NASDAQ:CTNM) released its 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 stock opened at $9.79 on Thursday. The stock’s fifty day moving average is $12.27 and its two-hundred day moving average is $13.50. Contineum Therapeutics has a 1 year low of $6.72 and a 1 year high of $17.78. The stock has a market capitalization of $368.31 million, a price-to-earnings ratio of -5.53 and a beta of 1.07.

Analyst Ratings Changes

Several research firms have issued reports on CTNM. JonesTrading boosted their price objective on shares of Contineum Therapeutics from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, October 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Thursday, October 15th. Robert W. Baird cut shares of Contineum Therapeutics from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $19.00 to $14.00 in a research report on Tuesday, October 13th. Stifel Nicolaus set a $23.00 target price on shares of Contineum Therapeutics in a research note on Wednesday. Finally, Wall Street Zen downgraded shares of Contineum Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $21.50.

Contineum Therapeutics Company Profile

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.