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

Contineum Therapeutics, Inc. (NASDAQ:CTNM) has earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $20.00.

A number of analysts recently weighed in on CTNM shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Monday, April 20th. Wall Street Zen raised shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley increased their price objective on shares of Contineum Therapeutics from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Thursday, May 14th. Finally, Robert W. Baird increased their price objective on shares of Contineum Therapeutics from $14.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, March 6th.

Contineum Therapeutics Stock Down 1.1%

CTNM stock opened at $12.34 on Friday. Contineum Therapeutics has a fifty-two week low of $3.57 and a fifty-two week high of $16.33. The firm’s 50-day simple moving average is $13.29 and its 200 day simple moving average is $12.94. The stock has a market cap of $461.34 million, a PE ratio of -6.33 and a beta of 0.89.

Contineum Therapeutics (NASDAQ:CTNM) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.16. Equities analysts forecast that Contineum Therapeutics will post -1.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Contineum Therapeutics

Several large investors have recently bought and sold shares of the stock. Seven Fleet Capital Management LP acquired a new position in Contineum Therapeutics during the 1st quarter valued at about $353,000. Bank of America Corp DE increased its stake in Contineum Therapeutics by 411.9% during the 1st quarter. Bank of America Corp DE now owns 47,449 shares of the company’s stock valued at $620,000 after buying an additional 38,180 shares during the period. Janus Henderson Group PLC increased its stake in Contineum Therapeutics by 11.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,734,836 shares of the company’s stock valued at $35,594,000 after buying an additional 285,857 shares during the period. Royal Bank of Canada increased its stake in Contineum Therapeutics by 73.5% during the 1st quarter. Royal Bank of Canada now owns 5,794 shares of the company’s stock valued at $76,000 after buying an additional 2,454 shares during the period. Finally, Eversept Partners LP increased its stake in Contineum Therapeutics by 6.5% during the 1st quarter. Eversept Partners LP now owns 146,411 shares of the company’s stock valued at $1,912,000 after buying an additional 8,918 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). 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.