Royal Bank Of Canada Cuts Contineum Therapeutics (NASDAQ:CTNM) Price Target to $22.00

Contineum Therapeutics (NASDAQ:CTNM) had its target price reduced by Royal Bank Of Canada from $25.00 to $22.00 in a research note issued to investors on Friday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

A number of other brokerages also recently issued reports on CTNM. Leerink Partnrs upgraded shares of Contineum Therapeutics to a “strong-buy” rating in a research note on Thursday, September 25th. Morgan Stanley lifted their price objective on shares of Contineum Therapeutics from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Wall Street Zen upgraded shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Leerink Partners began coverage on Contineum Therapeutics in a research note on Thursday, November 13th. They issued an “outperform” rating and a $22.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $20.80.

Contineum Therapeutics Price Performance

CTNM opened at $10.94 on Friday. The business has a fifty day moving average price of $11.38 and a 200 day moving average price of $7.84. Contineum Therapeutics has a 12 month low of $3.35 and a 12 month high of $16.25. The stock has a market capitalization of $319.23 million, a price-to-earnings ratio of -4.86 and a beta of 1.27.

Contineum Therapeutics (NASDAQ:CTNM) last announced its quarterly earnings data 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. On average, research analysts anticipate that Contineum Therapeutics will post -2.01 earnings per share for the current year.

Institutional Trading of Contineum Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in CTNM. ADAR1 Capital Management LLC boosted its position in shares of Contineum Therapeutics by 105.2% in the 1st quarter. ADAR1 Capital Management LLC now owns 168,765 shares of the company’s stock valued at $1,178,000 after purchasing an additional 86,531 shares during the period. Monaco Asset Management SAM acquired a new position in Contineum Therapeutics during the second quarter worth approximately $298,000. Nuveen LLC purchased a new stake in Contineum Therapeutics in the first quarter valued at approximately $93,000. Y Intercept Hong Kong Ltd purchased a new stake in Contineum Therapeutics in the second quarter valued at approximately $140,000. Finally, Franklin Resources Inc. boosted its holdings in shares of Contineum Therapeutics by 7.8% in the second 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.

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).