Contineum Therapeutics (NASDAQ:CTNM) Posts Quarterly Earnings Results, Misses Estimates 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 quarterly earnings data on Tuesday. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.06), Zacks reports.

Contineum Therapeutics Stock Performance

CTNM stock traded up $0.40 during midday trading on Thursday, reaching $6.73. 208,646 shares of the company's stock traded hands, compared to its average volume of 131,459. The firm has a market capitalization of $174.11 million, a PE ratio of -3.06 and a beta of 1.04. Contineum Therapeutics has a 52 week low of $3.35 and a 52 week high of $20.55. The company has a 50-day moving average price of $4.50 and a two-hundred day moving average price of $5.78.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Contineum Therapeutics stock. Strs Ohio purchased a new position in Contineum Therapeutics, Inc. (NASDAQ:CTNM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,900 shares of the company's stock, valued at approximately $27,000.

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).