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

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have earned an average recommendation of “Hold” from the five ratings firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $20.25.

CTNM has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on shares of Contineum Therapeutics from $14.00 to $16.00 and gave the company an “equal weight” rating in a report on Thursday, May 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Friday, July 17th. Royal Bank Of Canada upped their price target on Contineum Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, Wall Street Zen raised Contineum Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday.

Institutional Trading of Contineum Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. purchased a new position in shares of Contineum Therapeutics during the 4th quarter worth $43,000. Strs Ohio purchased a new stake in shares of Contineum Therapeutics in the first quarter valued at about $27,000. Royal Bank of Canada grew its holdings in shares of Contineum Therapeutics by 73.5% in the first quarter. Royal Bank of Canada now owns 5,794 shares of the company’s stock valued at $76,000 after purchasing an additional 2,454 shares during the period. Bank of America Corp DE increased its position in Contineum Therapeutics by 500.0% during the third quarter. Bank of America Corp DE now owns 7,236 shares of the company’s stock worth $85,000 after purchasing an additional 6,030 shares during the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in Contineum Therapeutics during the second quarter worth about $43,000.

Contineum Therapeutics Price Performance

Contineum Therapeutics stock opened at $17.19 on Wednesday. The company has a fifty day simple moving average of $14.48 and a 200-day simple moving average of $13.92. The firm has a market capitalization of $646.69 million, a price-to-earnings ratio of -9.94 and a beta of 0.74. Contineum Therapeutics has a 52-week low of $8.60 and a 52-week high of $17.35.

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, topping the consensus estimate of ($0.45) by $0.05. On average, research analysts anticipate that Contineum Therapeutics will post -1.68 EPS for the current fiscal 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.