Contineum Therapeutics (NASDAQ:CTNM) Releases Earnings Results, Beats Expectations By $0.01 EPS

Contineum Therapeutics (NASDAQ:CTNM) announced its quarterly earnings data on Wednesday. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.01, Zacks reports.

Contineum Therapeutics Stock Performance

Contineum Therapeutics stock traded down $0.15 during mid-day trading on Friday, hitting $18.40. 44,394 shares of the company’s stock were exchanged, compared to its average volume of 73,289. The company’s 50 day simple moving average is $17.58 and its 200-day simple moving average is $17.77. Contineum Therapeutics has a fifty-two week low of $13.27 and a fifty-two week high of $22.00.

Analyst Upgrades and Downgrades

Several brokerages have commented on CTNM. Robert W. Baird assumed coverage on shares of Contineum Therapeutics in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $32.00 target price for the company. Royal Bank of Canada dropped their price objective on Contineum Therapeutics from $32.00 to $31.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Baird R W upgraded Contineum Therapeutics to a “strong-buy” rating in a report on Tuesday, October 22nd. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Contineum Therapeutics has a consensus rating of “Buy” and an average target price of $29.25.

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).