Analysts Set Contineum Therapeutics, Inc. (NASDAQ:CTNM) Target Price at $20.25

Contineum Therapeutics, Inc. (NASDAQ:CTNM) has received an average recommendation of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $20.80.

Several equities analysts recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Friday, July 17th. Royal Bank Of Canada increased their price target on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Wall Street Zen upgraded Contineum Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, August 23rd. Robert W. Baird lowered their target price on shares of Contineum Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, JonesTrading decreased their price target on Contineum Therapeutics from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday.

Hedge Funds Weigh In On Contineum Therapeutics

Several hedge funds have recently added to or reduced their stakes in CTNM. Janus Henderson Group PLC raised its holdings in shares of Contineum Therapeutics by 11.7% in the first quarter. Janus Henderson Group PLC now owns 2,734,836 shares of the company’s stock worth $35,594,000 after acquiring an additional 285,857 shares during the last quarter. Baker BROS. Advisors LP lifted its holdings in shares of Contineum Therapeutics by 1,729.3% during the 4th quarter. Baker BROS. Advisors LP now owns 1,420,838 shares of the company’s stock worth $16,240,000 after acquiring an additional 1,343,168 shares during the period. Commodore Capital LP acquired a new position in shares of Contineum Therapeutics in the 4th quarter valued at $9,331,000. UBS Group AG boosted its holdings in Contineum Therapeutics by 191.1% in the fourth quarter. UBS Group AG now owns 199,389 shares of the company’s stock valued at $2,279,000 after acquiring an additional 130,885 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Contineum Therapeutics by 171.2% during the 2nd quarter. Wellington Management Group LLP now owns 150,797 shares of the company’s stock worth $2,472,000 after purchasing an additional 95,188 shares in the last quarter.

Contineum Therapeutics Stock Down 4.0%

NASDAQ:CTNM opened at $13.21 on Friday. The company has a fifty day simple moving average of $15.26 and a two-hundred day simple moving average of $14.01. Contineum Therapeutics has a 52 week low of $8.60 and a 52 week high of $17.78. The company has a market cap of $496.96 million, a price-to-earnings ratio of -7.64 and a beta of 0.75.

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

Contineum Therapeutics Company Profile

Contineum Therapeutics, formerly known as Pipeline Therapeutics, is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for diseases of the central nervous system. The company’s research is aimed at promoting remyelination and neurorepair, processes that may restore damaged nerve function rather than solely managing disease symptoms.

Contineum’s lead programs include PIPE-307, an oral, brain-penetrant therapy designed to promote remyelination through selective inhibition of the M1 muscarinic receptor, and PIPE-791, an oral antagonist of the lysophosphatidic acid receptor 1.