Contineum Therapeutics, Inc. (NASDAQ:CTNM) Receives Average Recommendation of “Buy” from Analysts

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have been given a consensus rating of “Buy” by the six analysts that are covering the firm, 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 1-year price target among brokerages that have issued a report on the stock in the last year is $22.50.

CTNM has been the subject of several recent research reports. William Blair initiated coverage on Contineum Therapeutics in a research report on Friday, June 20th. They set an “outperform” rating for the company. Morgan Stanley reduced their price target on Contineum Therapeutics from $25.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, May 19th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $31.00 price objective on shares of Contineum Therapeutics in a report on Thursday, May 15th.

Institutional Investors Weigh In On Contineum Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of CTNM. Strs Ohio purchased a new stake in Contineum Therapeutics during the 1st quarter worth about $27,000. Dynamic Technology Lab Private Ltd purchased a new stake in Contineum Therapeutics during the 1st quarter worth about $118,000. ADAR1 Capital Management LLC increased its holdings in Contineum Therapeutics by 105.2% during the 1st quarter. ADAR1 Capital Management LLC now owns 168,765 shares of the company’s stock worth $1,178,000 after purchasing an additional 86,531 shares during the period. Nuveen LLC purchased a new stake in Contineum Therapeutics during the 1st quarter worth about $93,000. Finally, Stempoint Capital LP purchased a new stake in Contineum Therapeutics during the 4th quarter worth about $3,894,000.

Contineum Therapeutics Trading Down 4.8%

CTNM opened at $3.73 on Tuesday. Contineum Therapeutics has a 12-month low of $3.35 and a 12-month high of $21.92. The business’s fifty day simple moving average is $4.04 and its 200-day simple moving average is $6.67. The company has a market capitalization of $96.50 million, a price-to-earnings ratio of -1.89 and a beta of 0.85.

Contineum Therapeutics (NASDAQ:CTNM) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). On average, equities research analysts predict that Contineum Therapeutics will post -2.01 EPS for the current year.

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).