Contineum Therapeutics, Inc. (NASDAQ:CTNM) Stock Rated “Hold” by Wall Street Brokerages

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have earned a consensus rating of “Hold” from the six brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $21.50.

A number of equities analysts recently weighed in on CTNM shares. Stifel Nicolaus set a $23.00 target price on shares of Contineum Therapeutics in a report on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Thursday, October 15th. Wall Street Zen cut shares of Contineum Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Royal Bank Of Canada raised their price objective on Contineum Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Finally, JonesTrading increased their price target on shares of Contineum Therapeutics from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, October 15th.

Contineum Therapeutics Stock Up 8.1%

Shares of NASDAQ CTNM opened at $9.52 on Monday. Contineum Therapeutics has a 52-week low of $6.72 and a 52-week high of $17.78. The firm has a market cap of $358.14 million, a price-to-earnings ratio of -5.38 and a beta of 1.07. The business’s 50 day moving average is $11.95 and its two-hundred day moving average is $13.48.

Contineum Therapeutics (NASDAQ:CTNM) last announced its earnings results on Tuesday, November 3rd. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.04). Analysts anticipate that Contineum Therapeutics will post -1.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Contineum Therapeutics

Institutional investors have recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in shares of Contineum Therapeutics by 73.5% during the 1st quarter. Royal Bank of Canada now owns 5,794 shares of the company’s stock valued at $76,000 after buying an additional 2,454 shares in the last quarter. Independent Financial Group LLC purchased a new position in shares of Contineum Therapeutics in the 1st quarter valued at about $353,000. Seven Fleet Capital Management LP purchased a new position in shares of Contineum Therapeutics in the first quarter valued at $353,000. Profund Advisors LLC acquired a new position in shares of Contineum Therapeutics during the third quarter valued at approximately $508,000. Finally, Alps Advisors Inc. lifted its position in Contineum Therapeutics by 30.6% in the third quarter. Alps Advisors Inc. now owns 43,357 shares of the company’s stock worth $582,000 after purchasing an additional 10,147 shares during the period.

Contineum Therapeutics Company Profile

Contineum Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for neurological and neuroinflammatory diseases. The company’s research is centered on restoring nervous-system function and addressing conditions in which inflammation or damage to myelin contributes to disease progression.

Contineum’s lead programs include PIPE-307, an oral, selective M1 muscarinic receptor antagonist being studied for its potential to promote remyelination in multiple sclerosis, and PIPE-791, an oral, central nervous system-penetrant LPA1 antagonist being developed for progressive multiple sclerosis and other fibrotic or neuroinflammatory conditions.