Contineum Therapeutics (NASDAQ:CTNM) Upgraded to Strong-Buy at Leerink Partnrs

Contineum Therapeutics (NASDAQ:CTNM) was upgraded by equities research analysts at Leerink Partnrs to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other analysts have also recently weighed in on the stock. William Blair began coverage on shares of Contineum Therapeutics in a report on Friday, June 20th. They set an “outperform” rating for the company. Leerink Partners began coverage on shares of Contineum Therapeutics in a research note on Thursday. They issued an “outperform” rating and a $20.00 price objective for the company. Finally, Morgan Stanley raised their price objective on shares of Contineum Therapeutics from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $22.20.

Contineum Therapeutics Stock Performance

Shares of NASDAQ:CTNM opened at $10.86 on Thursday. The stock has a market capitalization of $304.51 million, a price-to-earnings ratio of -4.94 and a beta of 1.19. Contineum Therapeutics has a 1-year low of $3.35 and a 1-year high of $20.24. The company has a 50 day moving average price of $8.89 and a 200 day moving average price of $6.18.

Contineum Therapeutics (NASDAQ:CTNM) last issued its earnings results on Tuesday, August 5th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). On average, sell-side analysts expect that Contineum Therapeutics will post -2.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio bought a new position in Contineum Therapeutics in the 1st quarter worth $27,000. Qube Research & Technologies Ltd acquired a new stake in shares of Contineum Therapeutics during the 2nd quarter valued at about $43,000. Marex Group plc acquired a new stake in shares of Contineum Therapeutics during the 2nd quarter valued at about $45,000. Bridgeway Capital Management LLC acquired a new position in Contineum Therapeutics in the second quarter valued at about $76,000. Finally, Jane Street Group LLC acquired a new position in Contineum Therapeutics in the second quarter valued at about $81,000.

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).