Contineum Therapeutics, Inc. (NASDAQ:CTNM) Given Average Recommendation of “Moderate Buy” by Brokerages

Contineum Therapeutics, Inc. (NASDAQ:CTNM) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $20.40.

CTNM has been the topic of several recent analyst reports. Royal Bank Of Canada decreased their price objective on shares of Contineum Therapeutics from $25.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, November 21st. Leerink Partners started coverage on Contineum Therapeutics in a research report on Thursday, November 13th. They issued an “outperform” rating and a $22.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Wednesday, October 8th. Leerink Partnrs upgraded Contineum Therapeutics to a “strong-buy” rating in a research report on Thursday, September 25th. Finally, Wall Street Zen raised Contineum Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, December 21st.

Institutional Trading of Contineum Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. RA Capital Management L.P. acquired a new stake in shares of Contineum Therapeutics during the third quarter worth about $24,934,000. Balyasny Asset Management L.P. purchased a new stake in Contineum Therapeutics during the 3rd quarter worth approximately $11,178,000. Vanguard Group Inc. lifted its holdings in Contineum Therapeutics by 29.6% during the 3rd quarter. Vanguard Group Inc. now owns 964,232 shares of the company’s stock worth $11,330,000 after buying an additional 220,231 shares in the last quarter. Susquehanna International Group LLP lifted its holdings in Contineum Therapeutics by 914.0% during the 3rd quarter. Susquehanna International Group LLP now owns 204,119 shares of the company’s stock worth $2,398,000 after buying an additional 183,988 shares in the last quarter. Finally, Norges Bank purchased a new position in Contineum Therapeutics in the 2nd quarter valued at approximately $674,000.

Contineum Therapeutics Trading Down 12.2%

Shares of NASDAQ:CTNM opened at $10.00 on Tuesday. The company has a market capitalization of $291.83 million, a price-to-earnings ratio of -4.44 and a beta of 1.21. Contineum Therapeutics has a 12-month low of $3.35 and a 12-month high of $15.25. The business has a 50-day moving average price of $11.36 and a 200 day moving average price of $9.49.

Contineum Therapeutics (NASDAQ:CTNM) last posted its earnings results on Thursday, October 30th. The company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.13. As a group, equities research analysts predict that Contineum Therapeutics will post -2.01 earnings per share for the current fiscal year.

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). The company also develops PIPE-307, a novel, small molecule selective inhibitor of the muscarinic type 1 M1 receptor to treat depression and relapse remitting MS; and CTX-343, a peripherally-restricted LPA1R antagonist.