Contineum Therapeutics, Inc. (NASDAQ:CTNM) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have earned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $19.00.

A number of research firms have recently issued reports on CTNM. Morgan Stanley reissued an “equal weight” rating and issued a $14.00 target price (down previously from $23.00) on shares of Contineum Therapeutics in a report on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Wednesday, January 21st. Robert W. Baird cut their price target 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. Royal Bank Of Canada lowered their price objective on Contineum Therapeutics from $25.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, November 21st. Finally, Leerink Partners started coverage on Contineum Therapeutics in a report on Thursday, November 13th. They issued an “outperform” rating and a $22.00 price target for the company.

Contineum Therapeutics Stock Down 2.3%

NASDAQ CTNM opened at $14.26 on Friday. The firm has a market cap of $416.11 million, a P/E ratio of -6.34 and a beta of 1.21. Contineum Therapeutics has a 52-week low of $3.35 and a 52-week high of $14.94. The business’s 50-day moving average price is $11.65 and its 200 day moving average price is $10.43.

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

Hedge Funds Weigh In On Contineum Therapeutics

A number of large investors have recently made changes to their positions in CTNM. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Contineum Therapeutics in the 4th quarter worth approximately $43,000. Strs Ohio acquired a new position in Contineum Therapeutics during the first quarter worth $27,000. Bank of America Corp DE boosted its position in Contineum Therapeutics by 500.0% during the third quarter. Bank of America Corp DE now owns 7,236 shares of the company’s stock worth $85,000 after purchasing an additional 6,030 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in Contineum Therapeutics in the second quarter valued at $43,000. Finally, Marex Group plc purchased a new position in shares of Contineum Therapeutics in the second quarter valued at $45,000.

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). 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.