Contineum Therapeutics (NASDAQ:CTNM) Posts Earnings Results, Misses Expectations By $0.06 EPS

Key Points

• Contineum Therapeutics (NASDAQ:CTNM) reported earnings of ($0.62) per share, missing estimates by $0.06.
• The company's stock increased by 3.4% to reach $6.00 following the earnings report, with substantial trading volume.
• Despite the earnings miss, analysts maintain a positive outlook, with a consensus rating of “Buy” and an average target price of $22.50.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) posted its earnings results on Tuesday. The company reported ($0.62) earnings per share for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.06), Zacks reports.

Contineum Therapeutics Stock Performance

CTNM traded down $0.26 on Friday, hitting $6.47. 183,759 shares of the company were exchanged, compared to its average volume of 321,049. Contineum Therapeutics has a 12 month low of $3.35 and a 12 month high of $20.55. The firm has a fifty day simple moving average of $4.68 and a two-hundred day simple moving average of $5.71. The stock has a market capitalization of $167.38 million, a PE ratio of -2.94 and a beta of 1.04.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CTNM. William Blair initiated coverage on shares of Contineum Therapeutics in a research report on Friday, June 20th. They set an "outperform" rating for the company. Royal Bank Of Canada reissued an "outperform" rating and set a $31.00 price objective on shares of Contineum Therapeutics in a report on Thursday, May 15th. Finally, Morgan Stanley reduced their price target on shares of Contineum Therapeutics from $25.00 to $20.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Contineum Therapeutics has an average rating of "Buy" and a consensus target price of $22.50.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Contineum Therapeutics stock. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 16,838 shares of the company's stock, valued at approximately $118,000. Dynamic Technology Lab Private Ltd owned 0.07% of Contineum Therapeutics as of its most recent SEC filing.

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).