Contineum Therapeutics, Inc. (NASDAQ:CTNM) Receives $22.50 Consensus PT from Analysts

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have earned an average rating of “Buy” from the six research firms that are covering the stock, Marketbeat.com reports. Five 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 target among brokers that have issued a report on the stock in the last year is $22.50.

Several equities analysts have recently weighed in on CTNM shares. Morgan Stanley decreased their target price on Contineum Therapeutics from $25.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, May 19th. William Blair started coverage on Contineum Therapeutics in a research report on Friday, June 20th. They issued an “outperform” rating on the stock. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $31.00 target price on shares of Contineum Therapeutics in a research report on Thursday, May 15th.

Hedge Funds Weigh In On Contineum Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new stake in Contineum Therapeutics in the first quarter valued at $27,000. Legal & General Group Plc raised its position in Contineum Therapeutics by 74.0% in the fourth quarter. Legal & General Group Plc now owns 3,631 shares of the company’s stock valued at $53,000 after purchasing an additional 1,544 shares during the period. Corebridge Financial Inc. raised its position in Contineum Therapeutics by 73.1% in the fourth quarter. Corebridge Financial Inc. now owns 5,215 shares of the company’s stock valued at $76,000 after purchasing an additional 2,202 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Contineum Therapeutics by 90.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,860 shares of the company’s stock valued at $86,000 after purchasing an additional 2,783 shares during the period. Finally, Nuveen LLC purchased a new stake in Contineum Therapeutics in the first quarter valued at $93,000.

Contineum Therapeutics Price Performance

NASDAQ CTNM opened at $6.43 on Friday. The company has a market cap of $166.34 million, a PE ratio of -2.92 and a beta of 1.04. The stock’s 50 day simple moving average is $4.72 and its 200-day simple moving average is $5.60. Contineum Therapeutics has a 1-year low of $3.35 and a 1-year high of $20.55.

Contineum Therapeutics (NASDAQ:CTNM) last released its earnings results on Tuesday, August 5th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.06). On average, equities research analysts anticipate that Contineum Therapeutics will post -2.01 EPS for the current fiscal year.

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).