Contineum Therapeutics’ (CTNM) “Equal Weight” Rating Reaffirmed at Morgan Stanley

Contineum Therapeutics (NASDAQ:CTNM)‘s stock had its “equal weight” rating reaffirmed by Morgan Stanley in a research note issued on Thursday,Benzinga reports. They currently have a $14.00 price objective on the stock, down from their prior price objective of $23.00. Morgan Stanley’s target price would suggest a potential upside of 46.44% from the stock’s previous close.

Several other brokerages have also weighed in on CTNM. Wall Street Zen raised Contineum Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, December 21st. Leerink Partnrs upgraded Contineum Therapeutics to a “strong-buy” rating in a report on Thursday, September 25th. Leerink Partners began coverage on Contineum Therapeutics in a research report on Thursday, November 13th. They set an “outperform” rating and a $22.00 price target on the stock. Robert W. Baird reduced their price objective on Contineum Therapeutics from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, November 24th. Finally, Royal Bank Of Canada decreased their price objective on shares of Contineum Therapeutics from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Contineum Therapeutics Price Performance

CTNM opened at $9.56 on Thursday. Contineum Therapeutics has a 12-month low of $3.35 and a 12-month high of $13.62. The stock has a market capitalization of $278.96 million, a PE ratio of -4.25 and a beta of 1.21. The firm’s fifty day moving average price is $11.30 and its 200 day moving average price is $9.52.

Contineum Therapeutics (NASDAQ:CTNM) last released its earnings results on Thursday, October 30th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.58) by $0.13. On average, equities research analysts forecast that Contineum Therapeutics will post -2.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio bought a new position in Contineum Therapeutics during the 1st quarter worth $27,000. Bank of America Corp DE boosted its holdings in shares of Contineum Therapeutics by 500.0% during the third quarter. Bank of America Corp DE now owns 7,236 shares of the company’s stock valued at $85,000 after acquiring an additional 6,030 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of Contineum Therapeutics during the second quarter worth about $43,000. Marex Group plc acquired a new stake in shares of Contineum Therapeutics in the 2nd quarter worth about $45,000. Finally, Bailard Inc. acquired a new stake in shares of Contineum Therapeutics in the 3rd quarter worth about $145,000.

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.