Contineum Therapeutics (NASDAQ:CTNM) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Contineum Therapeutics (NASDAQ:CTNM) had its target price lifted by equities research analysts at Morgan Stanley from $14.00 to $16.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 16.62% from the stock’s current price.

Several other brokerages also recently commented on CTNM. Robert W. Baird increased their price target on Contineum Therapeutics from $14.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Wall Street Zen raised Contineum Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Contineum Therapeutics Stock Down 3.4%

Shares of CTNM stock opened at $13.72 on Thursday. Contineum Therapeutics has a 12 month low of $3.35 and a 12 month high of $16.33. The business’s 50 day moving average is $13.27 and its two-hundred day moving average is $12.70. The company has a market cap of $512.99 million, a PE ratio of -7.04 and a beta of 0.89.

Contineum Therapeutics (NASDAQ:CTNM) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.16. As a group, equities analysts expect that Contineum Therapeutics will post -1.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Contineum Therapeutics

Several large investors have recently made changes to their positions in CTNM. Price T Rowe Associates Inc. MD bought a new position in Contineum Therapeutics during the fourth quarter valued at about $130,000. Dynamic Technology Lab Private Ltd bought a new position in Contineum Therapeutics during the first quarter valued at about $118,000. Qube Research & Technologies Ltd bought a new position in Contineum Therapeutics during the second quarter valued at about $43,000. Strs Ohio bought a new position in Contineum Therapeutics during the first quarter valued at about $27,000. Finally, Dimensional Fund Advisors LP bought a new position in Contineum Therapeutics during the first quarter valued at about $782,000.

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). 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.