Brokerages Set Contineum Therapeutics, Inc. (NASDAQ:CTNM) Price Target at $20.25

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have earned a consensus rating of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $20.25.

CTNM has been the subject of several analyst reports. Morgan Stanley upped their target price on shares of Contineum Therapeutics from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Thursday, May 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Friday, July 17th. Wall Street Zen downgraded Contineum Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Royal Bank Of Canada lifted their target price on Contineum Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st.

Contineum Therapeutics Stock Performance

Contineum Therapeutics stock opened at $17.19 on Wednesday. The stock’s 50 day moving average price is $14.48 and its 200 day moving average price is $13.92. The firm has a market capitalization of $646.69 million, a PE ratio of -9.94 and a beta of 0.74. Contineum Therapeutics has a one year low of $8.60 and a one year high of $17.35.

Contineum Therapeutics (NASDAQ:CTNM) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.05. On average, analysts forecast that Contineum Therapeutics will post -1.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Contineum Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio acquired a new position in shares of Contineum Therapeutics in the 1st quarter valued at approximately $27,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Contineum Therapeutics during the fourth quarter worth approximately $43,000. Qube Research & Technologies Ltd acquired a new stake in shares of Contineum Therapeutics during the second quarter worth approximately $43,000. Marex Group plc acquired a new stake in shares of Contineum Therapeutics during the second quarter worth approximately $45,000. Finally, Royal Bank of Canada increased its stake in shares of Contineum Therapeutics by 73.5% in the first quarter. Royal Bank of Canada now owns 5,794 shares of the company’s stock worth $76,000 after buying an additional 2,454 shares during the last quarter.

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.