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

Contineum Therapeutics, Inc. (NASDAQ:CTNM) has received an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $19.00.

A number of research firms have commented on CTNM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Wednesday, January 21st. Morgan Stanley reiterated an “equal weight” rating and issued a $14.00 price objective (down from $23.00) on shares of Contineum Therapeutics in a research report on Thursday, January 8th. Leerink Partners started coverage on shares of Contineum Therapeutics in a report on Thursday, November 13th. They set an “outperform” rating and a $22.00 target price for the company. Wall Street Zen upgraded shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Robert W. Baird reduced their price target on shares of Contineum Therapeutics from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday, November 24th.

Contineum Therapeutics Price Performance

Shares of NASDAQ:CTNM opened at $14.10 on Wednesday. The firm has a market capitalization of $411.44 million, a price-to-earnings ratio of -6.27 and a beta of 1.07. The business’s 50 day simple moving average is $13.27 and its 200-day simple moving average is $11.95. Contineum Therapeutics has a 12 month low of $3.35 and a 12 month high of $16.33.

Institutional Investors Weigh In On Contineum Therapeutics

A number of large investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. purchased a new position in Contineum Therapeutics during the fourth quarter worth $43,000. Strs Ohio acquired a new stake in shares of Contineum Therapeutics during the first quarter valued at $27,000. Bank of America Corp DE increased its position in Contineum Therapeutics by 500.0% during the 3rd 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 in the last quarter. Qube Research & Technologies Ltd purchased a new stake in Contineum Therapeutics during the 2nd quarter worth about $43,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in Contineum Therapeutics in the 4th quarter valued at about $130,000.

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.