Contineum Therapeutics (NASDAQ:CTNM) Earns “Equal Weight” Rating from Morgan Stanley

Contineum Therapeutics (NASDAQ:CTNM)‘s stock had its “equal weight” rating reiterated by investment analysts at Morgan Stanley in a research note issued to investors on Thursday, MarketBeat reports. They currently have a $14.00 target price on the stock, down from their previous target price of $23.00. Morgan Stanley’s price objective points to a potential upside of 50.38% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, December 21st. Royal Bank Of Canada dropped their target price on shares of Contineum Therapeutics from $25.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, November 21st. Leerink Partners initiated coverage on shares of Contineum Therapeutics in a research report on Thursday, November 13th. They set an “outperform” rating and a $22.00 price target for the company. Robert W. Baird decreased their price objective on shares of Contineum Therapeutics from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, November 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Contineum Therapeutics Stock Performance

Shares of CTNM opened at $9.31 on Thursday. The stock has a market cap of $271.67 million, a PE ratio of -4.14 and a beta of 1.21. Contineum Therapeutics has a fifty-two week low of $3.35 and a fifty-two week high of $13.57. The firm’s 50-day simple moving average is $11.24 and its two-hundred day simple moving average is $9.55.

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

Institutional Trading of Contineum Therapeutics

A number of hedge funds have recently bought and sold shares of CTNM. Susquehanna International Group LLP lifted its holdings in Contineum Therapeutics by 914.0% during the third quarter. Susquehanna International Group LLP now owns 204,119 shares of the company’s stock valued at $2,398,000 after purchasing an additional 183,988 shares in the last quarter. RA Capital Management L.P. purchased a new stake in shares of Contineum Therapeutics in the third quarter worth $24,934,000. Bank of America Corp DE raised its position in shares of Contineum Therapeutics by 500.0% during the 3rd quarter. Bank of America Corp DE now owns 7,236 shares of the company’s stock valued at $85,000 after purchasing an additional 6,030 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of Contineum Therapeutics during the 3rd quarter valued at $11,178,000. Finally, Bridgeway Capital Management LLC lifted its stake in shares of Contineum Therapeutics by 116.6% during the 3rd quarter. Bridgeway Capital Management LLC now owns 41,580 shares of the company’s stock valued at $489,000 after buying an additional 22,380 shares in the last quarter.

About Contineum Therapeutics

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.