Contineum Therapeutics, Inc. (NASDAQ:CTNM) Receives Consensus Rating of “Moderate Buy” from Brokerages

Contineum Therapeutics, Inc. (NASDAQ:CTNM) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $20.40.

CTNM has been the subject of a number of research analyst reports. Royal Bank Of Canada decreased their price objective on shares of Contineum Therapeutics from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, November 21st. Leerink Partnrs raised shares of Contineum Therapeutics to a “strong-buy” rating in a research note on Thursday, September 25th. Wall Street Zen cut Contineum Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Robert W. Baird reduced their price objective on Contineum Therapeutics from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday, November 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Wednesday, October 8th.

Contineum Therapeutics Stock Down 0.8%

Shares of Contineum Therapeutics stock opened at $11.39 on Friday. The stock’s fifty day moving average is $11.29 and its two-hundred day moving average is $8.79. Contineum Therapeutics has a 52 week low of $3.35 and a 52 week high of $15.25. The company has a market capitalization of $332.36 million, a PE ratio of -5.06 and a beta of 1.25.

Contineum Therapeutics (NASDAQ:CTNM) last issued its earnings results on Thursday, October 30th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.13. As a group, research analysts anticipate that Contineum Therapeutics will post -2.01 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. RA Capital Management L.P. bought a new position in shares of Contineum Therapeutics during the third quarter valued at approximately $24,934,000. Balyasny Asset Management L.P. purchased a new stake in Contineum Therapeutics during the third quarter worth $11,178,000. Vanguard Group Inc. boosted 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 valued at $11,330,000 after acquiring an additional 220,231 shares in the last quarter. Susquehanna International Group LLP increased its holdings in shares of Contineum Therapeutics by 914.0% in the 3rd quarter. Susquehanna International Group LLP now owns 204,119 shares of the company’s stock valued at $2,398,000 after acquiring an additional 183,988 shares during the period. Finally, Norges Bank purchased a new position in shares of Contineum Therapeutics in the 2nd quarter valued at $674,000.

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).