Contineum Therapeutics (NASDAQ:CTNM) Research Coverage Started at Leerink Partners

Leerink Partners assumed coverage on shares of Contineum Therapeutics (NASDAQ:CTNM) in a report issued on Thursday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $22.00 target price on the stock.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Wednesday, October 8th. Leerink Partnrs upgraded 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. Finally, Wall Street Zen upgraded shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.60.

Contineum Therapeutics Stock Down 2.2%

NASDAQ:CTNM opened at $10.66 on Thursday. Contineum Therapeutics has a twelve month low of $3.35 and a twelve month high of $18.19. The stock’s 50 day moving average price is $11.43 and its two-hundred day moving average price is $7.55. The firm has a market capitalization of $311.06 million, a price-to-earnings ratio of -4.74 and a beta of 1.26.

Contineum Therapeutics (NASDAQ:CTNM) last posted its quarterly earnings results on Thursday, October 30th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping 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 hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. raised its stake in Contineum Therapeutics by 7.8% during the second quarter. Franklin Resources Inc. now owns 1,698,825 shares of the company’s stock worth $6,744,000 after acquiring an additional 122,644 shares in the last quarter. Vanguard Group Inc. increased its position in Contineum Therapeutics by 29.6% during the 3rd quarter. Vanguard Group Inc. now owns 964,232 shares of the company’s stock worth $11,330,000 after purchasing an additional 220,231 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Contineum Therapeutics in the 3rd quarter valued at approximately $11,178,000. Norges Bank acquired a new stake in Contineum Therapeutics in the second quarter valued at approximately $674,000. Finally, ADAR1 Capital Management LLC grew its stake in shares of Contineum Therapeutics by 105.2% during the first quarter. ADAR1 Capital Management LLC now owns 168,765 shares of the company’s stock worth $1,178,000 after buying an additional 86,531 shares during the last quarter.

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).