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

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $19.50.

Several analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Wednesday, January 21st. Wall Street Zen downgraded Contineum Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Morgan Stanley reiterated an “equal weight” rating and issued a $14.00 target price (down from $23.00) on shares of Contineum Therapeutics in a research note on Thursday, January 8th. Finally, Robert W. Baird raised their target price on Contineum Therapeutics from $14.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, March 6th.

Contineum Therapeutics Trading Up 0.8%

Contineum Therapeutics stock opened at $12.21 on Friday. The stock has a fifty day moving average price of $13.90 and a 200 day moving average price of $12.26. Contineum Therapeutics has a 52 week low of $3.35 and a 52 week high of $16.33. The firm has a market capitalization of $455.92 million, a P/E ratio of -5.60 and a beta of 1.07.

Contineum Therapeutics (NASDAQ:CTNM) last posted its quarterly earnings results on Thursday, March 5th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.01. As a group, equities 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 made changes to their positions in CTNM. Janus Henderson Group PLC purchased a new position in shares of Contineum Therapeutics in the fourth quarter valued at $27,906,000. RA Capital Management L.P. purchased a new stake in Contineum Therapeutics during the 3rd quarter worth $24,934,000. Baker BROS. Advisors LP lifted its holdings in Contineum Therapeutics by 1,729.3% in the 4th quarter. Baker BROS. Advisors LP now owns 1,420,838 shares of the company’s stock worth $16,240,000 after buying an additional 1,343,168 shares in the last quarter. Suvretta Capital Management LLC lifted its holdings in Contineum Therapeutics by 65.2% in the 4th quarter. Suvretta Capital Management LLC now owns 2,841,334 shares of the company’s stock worth $32,476,000 after buying an additional 1,121,334 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in Contineum Therapeutics in the 3rd quarter worth $11,178,000.

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.