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

Key Points

• Contineum Therapeutics reported a quarterly loss of $0.49 per share, missing analysts’ consensus estimate of a $0.45 loss by $0.04.
• The stock rose $0.13 to $9.69 on Tuesday, but remained below its 50-day and 200-day moving averages.
• Analyst views were mixed, with a consensus Hold rating and an average price target of $22.33.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) posted its quarterly 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 Price Performance

NASDAQ CTNM traded up $0.13 on Tuesday, hitting $9.69. 525,812 shares of the stock were exchanged, compared to its average volume of 456,986. The business's fifty day moving average is $12.55 and its 200 day moving average is $13.52. Contineum Therapeutics has a 52 week low of $6.72 and a 52 week high of $17.78. The company has a market capitalization of $364.54 million, a PE ratio of -5.60 and a beta of 0.86.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CTNM shares. Robert W. Baird lowered 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 report on Tuesday, October 13th. Weiss Ratings restated a "sell (d-)" rating on shares of Contineum Therapeutics in a report on Thursday, October 15th. Royal Bank Of Canada raised their price target on Contineum Therapeutics from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Morgan Stanley dropped their price target on Contineum Therapeutics from $18.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Monday, September 28th. Finally, Wall Street Zen cut Contineum Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, September 19th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Contineum Therapeutics currently has a consensus 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.

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