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

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have been given an average rating of “Moderate Buy” by the seven ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $19.00.

CTNM has been the topic of a number of research reports. Wall Street Zen downgraded Contineum Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Morgan Stanley reaffirmed an “equal weight” rating and set a $14.00 target price (down from $23.00) on shares of Contineum Therapeutics in a research report on Thursday, January 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Wednesday, January 21st. Royal Bank Of Canada decreased their price target on shares of Contineum Therapeutics from $25.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, November 21st. Finally, Leerink Partners initiated coverage on shares of Contineum Therapeutics in a report on Thursday, November 13th. They set an “outperform” rating and a $22.00 price objective on the stock.

Contineum Therapeutics Trading Down 2.7%

Shares of NASDAQ CTNM opened at $14.80 on Friday. The firm has a market capitalization of $431.86 million, a P/E ratio of -6.58 and a beta of 1.18. The firm’s 50-day moving average price is $11.90 and its 200-day moving average price is $10.71. Contineum Therapeutics has a 1-year low of $3.35 and a 1-year high of $15.48.

Hedge Funds Weigh In On Contineum Therapeutics

A number of hedge funds have recently added to or reduced their stakes in CTNM. Strs Ohio purchased a new stake in shares of Contineum Therapeutics in the first quarter worth approximately $27,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Contineum Therapeutics during the fourth quarter valued at approximately $43,000. Qube Research & Technologies Ltd bought a new stake in Contineum Therapeutics during the second quarter worth $43,000. Marex Group plc purchased a new stake in Contineum Therapeutics in the 2nd quarter valued at $45,000. Finally, Bridgeway Capital Management LLC purchased a new stake in Contineum Therapeutics in the 2nd quarter valued at $76,000.

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.