Brokerages Set Contineum Therapeutics, Inc. (NASDAQ:CTNM) Target Price at $20.40

Contineum Therapeutics, Inc. (NASDAQ:CTNM) has been given an average recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $19.00.

A number of research firms recently weighed in on CTNM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Wednesday, October 8th. Morgan Stanley restated an “equal weight” rating and issued a $14.00 target price (down previously from $23.00) on shares of Contineum Therapeutics in a research note on Thursday. Wall Street Zen upgraded shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, December 21st. Leerink Partners began coverage on shares of Contineum Therapeutics in a report on Thursday, November 13th. They set an “outperform” rating and a $22.00 price target for the company. Finally, Leerink Partnrs upgraded shares of Contineum Therapeutics to a “strong-buy” rating in a research report on Thursday, September 25th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CTNM. RA Capital Management L.P. purchased a new stake in shares of Contineum Therapeutics during the 3rd quarter worth $24,934,000. Balyasny Asset Management L.P. purchased a new stake in Contineum Therapeutics during the third quarter worth about $11,178,000. Vanguard Group Inc. boosted its holdings in Contineum Therapeutics by 29.6% during the third quarter. Vanguard Group Inc. now owns 964,232 shares of the company’s stock worth $11,330,000 after buying an additional 220,231 shares in the last quarter. Susquehanna International Group LLP grew its position in Contineum Therapeutics by 914.0% during the third quarter. Susquehanna International Group LLP now owns 204,119 shares of the company’s stock worth $2,398,000 after buying an additional 183,988 shares during the period. Finally, Norges Bank acquired a new position in Contineum Therapeutics during the second quarter worth about $674,000.

Contineum Therapeutics Stock Performance

Shares of CTNM opened at $9.17 on Tuesday. Contineum Therapeutics has a fifty-two week low of $3.35 and a fifty-two week high of $13.57. The firm has a 50-day simple moving average of $11.28 and a 200-day simple moving average of $9.52. The company has a market capitalization of $267.61 million, a price-to-earnings ratio of -4.08 and a beta of 1.21.

Contineum Therapeutics (NASDAQ:CTNM) last posted its quarterly earnings data on Thursday, October 30th. The company reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.13. Equities research analysts forecast that Contineum Therapeutics will post -2.01 EPS for the current 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.