Contineum Therapeutics (NASDAQ:CTNM) Given New $22.00 Price Target at Royal Bank Of Canada

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

Several other brokerages have also issued reports on CTNM. Leerink Partnrs raised Contineum Therapeutics to a “strong-buy” rating in a research note on Thursday, September 25th. Morgan Stanley boosted their price objective on shares of Contineum Therapeutics from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Wednesday, October 8th. Leerink Partners began coverage on shares of Contineum Therapeutics in a research report on Thursday, November 13th. They issued an “outperform” rating and a $22.00 target price on the stock. Finally, Wall Street Zen raised 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.80.

Contineum Therapeutics Stock Performance

CTNM traded down $1.28 during trading on Friday, reaching $10.94. The stock had a trading volume of 687,874 shares, compared to its average volume of 134,892. The business has a 50-day moving average of $11.38 and a 200-day moving average of $7.79. Contineum Therapeutics has a one year low of $3.35 and a one year high of $16.25. The stock has a market cap of $319.23 million, a PE ratio of -4.86 and a beta of 1.26.

Contineum Therapeutics (NASDAQ:CTNM) last posted its quarterly earnings data on Thursday, October 30th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.13. Equities research analysts forecast that Contineum Therapeutics will post -2.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Contineum Therapeutics

A number of large investors have recently added to or reduced their stakes in CTNM. ADAR1 Capital Management LLC grew its stake in shares of Contineum Therapeutics by 105.2% in the first quarter. ADAR1 Capital Management LLC now owns 168,765 shares of the company’s stock worth $1,178,000 after purchasing an additional 86,531 shares during the last quarter. Monaco Asset Management SAM bought a new position in Contineum Therapeutics during the 2nd quarter valued at approximately $298,000. Nuveen LLC purchased a new stake in Contineum Therapeutics in the 1st quarter worth approximately $93,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Contineum Therapeutics in the 2nd quarter worth approximately $140,000. Finally, Bailard Inc. bought a new stake in shares of Contineum Therapeutics in the 3rd quarter worth approximately $145,000.

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).