Contineum Therapeutics, Inc. (NASDAQ:CTNM) Stock Has Consensus Target Price of $22.17 According to Brokerages

Contineum Therapeutics, Inc. (NASDAQ:CTNM) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $22.17.

A number of equities research analysts recently issued reports on CTNM shares. Royal Bank Of Canada raised their price target on Contineum Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. JonesTrading cut their price objective on Contineum Therapeutics from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, September 15th. Stifel Nicolaus set a $28.00 target price on Contineum Therapeutics in a research note on Wednesday, September 30th. Morgan Stanley decreased their target price on Contineum Therapeutics from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Monday, September 28th. Finally, Wall Street Zen lowered shares of Contineum Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th.

Contineum Therapeutics Price Performance

Contineum Therapeutics stock opened at $13.38 on Thursday. The firm has a market capitalization of $503.36 million, a P/E ratio of -7.73 and a beta of 0.86. Contineum Therapeutics has a 1-year low of $8.60 and a 1-year high of $17.78. The company’s 50-day moving average is $14.76 and its 200 day moving average is $13.93.

Contineum Therapeutics (NASDAQ:CTNM) last announced its earnings results on Thursday, July 30th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.05. Research analysts anticipate that Contineum Therapeutics will post -1.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Contineum Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Seven Fleet Capital Management LP boosted its position in Contineum Therapeutics by 123.8% in the 2nd quarter. Seven Fleet Capital Management LP now owns 60,541 shares of the company’s stock valued at $992,000 after buying an additional 33,487 shares during the period. Wellington Management Group LLP grew its stake in Contineum Therapeutics by 171.2% in the 2nd quarter. Wellington Management Group LLP now owns 150,797 shares of the company’s stock worth $2,472,000 after acquiring an additional 95,188 shares in the last quarter. Bank of America Corp DE increased its position in shares of Contineum Therapeutics by 411.9% during the first quarter. Bank of America Corp DE now owns 47,449 shares of the company’s stock worth $620,000 after acquiring an additional 38,180 shares during the period. Janus Henderson Group PLC increased its position in shares of Contineum Therapeutics by 11.7% during 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 period. Finally, Royal Bank of Canada increased its position in shares of Contineum Therapeutics by 73.5% during the first quarter. Royal Bank of Canada now owns 5,794 shares of the company’s stock worth $76,000 after acquiring an additional 2,454 shares during the period.

Contineum Therapeutics Company Profile

Contineum Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines for diseases of the central nervous system. The company’s research is centered on therapeutics designed to promote remyelination, the repair of damaged myelin that supports nerve function, and to address neuroinflammation and other mechanisms involved in neurological disorders.

Contineum’s pipeline includes PIPE-307, an oral, selective M1 muscarinic receptor antagonist being investigated for its potential to promote remyelination in multiple sclerosis.