Contineum Therapeutics, Inc. (NASDAQ:CTNM) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have received an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $20.00.

CTNM has been the subject of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Monday, April 20th. Wall Street Zen upgraded Contineum Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Morgan Stanley boosted their price target on Contineum Therapeutics from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Thursday, May 14th. Finally, Robert W. Baird boosted their price objective on Contineum Therapeutics from $14.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, March 6th.

Institutional Trading of Contineum Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Seven Fleet Capital Management LP purchased a new stake in Contineum Therapeutics in the 1st quarter worth $353,000. Bank of America Corp DE increased its stake in Contineum Therapeutics by 411.9% in the 1st quarter. Bank of America Corp DE now owns 47,449 shares of the company’s stock worth $620,000 after buying an additional 38,180 shares in the last quarter. Janus Henderson Group PLC increased its stake in Contineum Therapeutics by 11.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,734,836 shares of the company’s stock worth $35,594,000 after buying an additional 285,857 shares in the last quarter. Royal Bank of Canada increased its stake in Contineum Therapeutics by 73.5% in the 1st quarter. Royal Bank of Canada now owns 5,794 shares of the company’s stock worth $76,000 after buying an additional 2,454 shares in the last quarter. Finally, Eversept Partners LP increased its stake in Contineum Therapeutics by 6.5% in the 1st quarter. Eversept Partners LP now owns 146,411 shares of the company’s stock worth $1,912,000 after buying an additional 8,918 shares in the last quarter.

Contineum Therapeutics Stock Performance

Shares of NASDAQ:CTNM opened at $11.43 on Friday. The business has a 50-day simple moving average of $13.18 and a two-hundred day simple moving average of $12.94. The firm has a market cap of $427.37 million, a price-to-earnings ratio of -5.86 and a beta of 0.89. Contineum Therapeutics has a fifty-two week low of $3.57 and a fifty-two week high of $16.33.

Contineum Therapeutics (NASDAQ:CTNM) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.16. As a group, research analysts predict that Contineum Therapeutics will post -1.68 earnings per share for the current year.

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.