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

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $19.50.

A number of research analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Wednesday, January 21st. Robert W. Baird boosted their price target 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. Morgan Stanley restated an “equal weight” rating and set a $14.00 price objective (down from $23.00) on shares of Contineum Therapeutics in a research report on Thursday, January 8th. Finally, Wall Street Zen downgraded shares of Contineum Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 7th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd purchased a new stake in Contineum Therapeutics during the 1st quarter worth approximately $118,000. Strs Ohio acquired a new position in shares of Contineum Therapeutics during the first quarter valued at approximately $27,000. Franklin Resources Inc. lifted its position in shares of Contineum Therapeutics by 7.8% in the second quarter. Franklin Resources Inc. now owns 1,698,825 shares of the company’s stock valued at $6,744,000 after acquiring an additional 122,644 shares in the last quarter. Norges Bank purchased a new position in shares of Contineum Therapeutics in the second quarter valued at approximately $674,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Contineum Therapeutics in the second quarter worth approximately $43,000.

Contineum Therapeutics Stock Up 2.8%

Shares of Contineum Therapeutics stock opened at $13.65 on Friday. The firm has a market cap of $509.69 million, a PE ratio of -6.26 and a beta of 1.07. Contineum Therapeutics has a twelve month low of $3.35 and a twelve month high of $16.33. The business has a 50-day moving average price of $14.06 and a 200 day moving average price of $12.30.

Contineum Therapeutics (NASDAQ:CTNM) last issued its quarterly earnings results on Thursday, March 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.01. On average, sell-side analysts expect that Contineum Therapeutics will post -2.01 EPS for the current year.

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.