Wall Street Zen Downgrades Contineum Therapeutics (NASDAQ:CTNM) to Sell

Contineum Therapeutics (NASDAQ:CTNM) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

A number of other brokerages have also weighed in on CTNM. Robert W. Baird lifted their price objective on shares of Contineum Therapeutics from $14.00 to $20.00 and gave the company an “outperform” rating in a report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Wednesday, January 21st. Royal Bank Of Canada decreased their price target on shares of Contineum Therapeutics from $25.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, November 21st. Leerink Partners began 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. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $14.00 price objective (down from $23.00) on shares of Contineum Therapeutics in a research note on Thursday, January 8th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.20.

Contineum Therapeutics Stock Up 0.5%

Shares of Contineum Therapeutics stock opened at $13.88 on Friday. The stock’s fifty day moving average is $13.36 and its two-hundred day moving average is $12.03. Contineum Therapeutics has a 52 week low of $3.35 and a 52 week high of $16.33. The company has a market capitalization of $405.02 million, a PE ratio of -6.37 and a beta of 1.07.

Contineum Therapeutics (NASDAQ:CTNM) last released its earnings results on Thursday, March 5th. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.01. As a group, research analysts anticipate that Contineum Therapeutics will post -2.01 earnings per share for the current year.

Institutional Trading of Contineum Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of CTNM. Franklin Resources Inc. increased its holdings in shares of Contineum Therapeutics by 7.8% in the 2nd quarter. Franklin Resources Inc. now owns 1,698,825 shares of the company’s stock valued at $6,744,000 after acquiring an additional 122,644 shares during the period. Monaco Asset Management SAM purchased a new stake in shares of Contineum Therapeutics during the 2nd quarter worth $298,000. Y Intercept Hong Kong Ltd bought a new stake in Contineum Therapeutics during the second quarter valued at about $140,000. RBF Capital LLC bought a new stake in Contineum Therapeutics during the second quarter valued at about $159,000. Finally, Baker BROS. Advisors LP grew its stake in Contineum Therapeutics by 1,729.3% in the fourth quarter. Baker BROS. Advisors LP now owns 1,420,838 shares of the company’s stock valued at $16,240,000 after purchasing an additional 1,343,168 shares during the last quarter.

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.