Brokerages Set Contineum Therapeutics, Inc. (NASDAQ:CTNM) Target Price at $19.00

Contineum Therapeutics, Inc. (NASDAQ:CTNM) has received an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $19.00.

A number of research firms have recently weighed in on CTNM. Royal Bank Of Canada lowered their price target on shares of Contineum Therapeutics from $25.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, November 21st. Robert W. Baird lowered their target price on shares of Contineum Therapeutics from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Wednesday, January 21st. Morgan Stanley reiterated an “equal weight” rating and set a $14.00 price objective (down from $23.00) on shares of Contineum Therapeutics in a report on Thursday, January 8th. Finally, Wall Street Zen upgraded Contineum Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th.

Hedge Funds Weigh In On Contineum Therapeutics

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in Contineum Therapeutics by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 213,869 shares of the company’s stock worth $2,446,000 after purchasing an additional 2,819 shares in the last quarter. Eversept Partners LP raised its holdings in shares of Contineum Therapeutics by 2.1% in the fourth quarter. Eversept Partners LP now owns 137,493 shares of the company’s stock worth $1,572,000 after buying an additional 2,874 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Contineum Therapeutics during the fourth quarter worth $43,000. Strs Ohio purchased a new stake in shares of Contineum Therapeutics during the first quarter valued at $27,000. Finally, Schonfeld Strategic Advisors LLC increased its position in shares of Contineum Therapeutics by 22.6% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 22,673 shares of the company’s stock valued at $259,000 after acquiring an additional 4,177 shares during the period.

Contineum Therapeutics Price Performance

Shares of CTNM stock opened at $15.34 on Wednesday. The stock’s 50-day moving average is $13.17 and its 200 day moving average is $11.85. Contineum Therapeutics has a 1-year low of $3.35 and a 1-year high of $16.33. The company has a market cap of $447.62 million, a P/E ratio of -6.82 and a beta of 1.06.

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). 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.