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

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have been given a consensus rating of “Buy” by the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $24.80.

CTNM has been the topic of a number of research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 target price on shares of Contineum Therapeutics in a research report on Thursday, January 9th. Robert W. Baird reduced their target price on shares of Contineum Therapeutics from $32.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Jones Trading began coverage on Contineum Therapeutics in a research report on Thursday, March 13th. They issued a “buy” rating and a $23.00 price target for the company. Finally, Morgan Stanley reissued an “overweight” rating and issued a $25.00 price objective on shares of Contineum Therapeutics in a research report on Friday, March 7th.

Contineum Therapeutics Price Performance

NASDAQ:CTNM opened at $5.80 on Monday. Contineum Therapeutics has a one year low of $5.25 and a one year high of $22.00. The firm has a market capitalization of $150.06 million and a price-to-earnings ratio of -1.18. The business has a fifty day moving average price of $7.73 and a 200-day moving average price of $12.78.

Institutional Trading of Contineum Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. Stempoint Capital LP bought a new stake in shares of Contineum Therapeutics in the 4th quarter valued at about $3,894,000. Red Tree Management LLC purchased a new stake in Contineum Therapeutics during the fourth quarter worth $9,349,000. Nuveen Asset Management LLC bought a new stake in Contineum Therapeutics during the 4th quarter valued at $195,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Contineum Therapeutics by 90.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,860 shares of the company’s stock valued at $86,000 after acquiring an additional 2,783 shares during the period. Finally, Janus Henderson Group PLC purchased a new position in shares of Contineum Therapeutics in the 4th quarter valued at $1,001,000.

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).