Analysts Set Contineum Therapeutics, Inc. (NASDAQ:CTNM) Target Price at $20.00

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have been given an average recommendation of “Hold” by the five ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $20.00.

Several analysts have commented on CTNM shares. Wall Street Zen upgraded Contineum Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Morgan Stanley boosted their price target on Contineum Therapeutics from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Friday, July 17th.

Hedge Funds Weigh In On Contineum Therapeutics

A number of hedge funds have recently bought and sold shares of CTNM. 683 Capital Management LLC purchased a new stake in shares of Contineum Therapeutics during the 4th quarter valued at about $1,045,000. UBS Group AG raised its holdings in shares of Contineum Therapeutics by 191.1% during the fourth quarter. UBS Group AG now owns 199,389 shares of the company’s stock valued at $2,279,000 after purchasing an additional 130,885 shares during the last quarter. Baker BROS. Advisors LP raised its holdings in shares of Contineum Therapeutics by 1,729.3% during the fourth quarter. Baker BROS. Advisors LP now owns 1,420,838 shares of the company’s stock valued at $16,240,000 after purchasing an additional 1,343,168 shares during the last quarter. Monashee Investment Management LLC bought a new position in Contineum Therapeutics during the fourth quarter valued at approximately $1,571,000. Finally, Commodore Capital LP bought a new position in Contineum Therapeutics during the fourth quarter valued at approximately $9,331,000.

Contineum Therapeutics Stock Performance

Shares of NASDAQ CTNM opened at $14.38 on Friday. The firm’s 50 day moving average price is $13.58 and its 200-day moving average price is $13.57. The company has a market cap of $537.67 million, a PE ratio of -7.37 and a beta of 0.70. Contineum Therapeutics has a 52-week low of $5.07 and a 52-week high of $16.91.

Contineum Therapeutics (NASDAQ:CTNM) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.16. On average, analysts forecast that Contineum Therapeutics will post -1.68 earnings per share for the current fiscal year.

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). 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.