Contineum Therapeutics (NASDAQ:CTNM) Earns Outperform Rating from Royal Bank of Canada

Contineum Therapeutics (NASDAQ:CTNM)‘s stock had its “outperform” rating restated by research analysts at Royal Bank of Canada in a research note issued to investors on Thursday,Benzinga reports. They currently have a $31.00 price target on the stock.

Several other brokerages have also commented on CTNM. Jones Trading began coverage on shares of Contineum Therapeutics in a report on Thursday, March 13th. They issued a “buy” rating and a $23.00 price target for the company. Robert W. Baird lowered their price objective on shares of Contineum Therapeutics from $32.00 to $16.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $25.00 price objective on shares of Contineum Therapeutics in a research note on Friday, March 7th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $23.75.

Contineum Therapeutics Stock Down 10.9%

Shares of CTNM stock opened at $3.51 on Thursday. The firm has a market cap of $90.81 million and a price-to-earnings ratio of -0.72. Contineum Therapeutics has a 52-week low of $3.49 and a 52-week high of $22.00. The company’s 50 day moving average is $5.29 and its 200 day moving average is $9.97.

Contineum Therapeutics (NASDAQ:CTNM) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.06). Analysts anticipate that Contineum Therapeutics will post -2.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CTNM. Red Tree Management LLC purchased a new stake in shares of Contineum Therapeutics during the fourth quarter worth approximately $9,349,000. Stempoint Capital LP acquired a new stake in Contineum Therapeutics during the fourth quarter worth approximately $3,894,000. Norges Bank purchased a new position in shares of Contineum Therapeutics during the 4th quarter worth about $2,487,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Contineum Therapeutics in the 4th quarter worth $1,846,000. Finally, ADAR1 Capital Management LLC lifted its position in Contineum Therapeutics by 105.2% during the first quarter. ADAR1 Capital Management LLC now owns 168,765 shares of the company’s stock valued at $1,178,000 after buying an additional 86,531 shares in the last quarter.

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).