Contineum Therapeutics, Inc. (NASDAQ:CTNM) Given Consensus Recommendation of “Hold” by Brokerages

Contineum Therapeutics, Inc. (NASDAQ:CTNM) has been assigned an average rating of “Hold” from the five research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $20.25.

A number of equities analysts recently issued reports on CTNM shares. Royal Bank Of Canada upped their price objective on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday. Morgan Stanley raised their target price on shares of Contineum Therapeutics from $14.00 to $16.00 and gave the company an “equal weight” rating in a research report on Thursday, May 14th. Wall Street Zen raised shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Friday, July 17th.

Institutional Investors Weigh In On Contineum Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. 683 Capital Management LLC bought a new position in Contineum Therapeutics in the fourth quarter valued at about $1,045,000. UBS Group AG boosted its stake in shares of Contineum Therapeutics by 191.1% during the fourth quarter. UBS Group AG now owns 199,389 shares of the company’s stock valued at $2,279,000 after purchasing an additional 130,885 shares in the last quarter. Baker BROS. Advisors LP grew its holdings in shares of Contineum Therapeutics by 1,729.3% during the fourth quarter. Baker BROS. Advisors LP now owns 1,420,838 shares of the company’s stock worth $16,240,000 after purchasing an additional 1,343,168 shares during the last quarter. Monashee Investment Management LLC bought a new stake in shares of Contineum Therapeutics during the fourth quarter worth about $1,571,000. Finally, Commodore Capital LP bought a new stake in shares of Contineum Therapeutics during the fourth quarter worth about $9,331,000.

Contineum Therapeutics Trading Down 1.7%

Shares of NASDAQ CTNM opened at $15.49 on Friday. The company has a market cap of $579.17 million, a price-to-earnings ratio of -8.95 and a beta of 0.70. Contineum Therapeutics has a 12 month low of $5.07 and a 12 month high of $16.91. The stock has a 50-day moving average price of $13.64 and a two-hundred day moving average price of $13.62.

Contineum Therapeutics (NASDAQ:CTNM) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.05. On average, sell-side analysts predict that Contineum Therapeutics will post -1.68 earnings per share 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.