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

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have received a consensus rating of “Buy” from the six brokerages that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $22.75.

A number of equities analysts recently weighed in on the stock. Morgan Stanley boosted their target price on shares of Contineum Therapeutics from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. William Blair initiated coverage on shares of Contineum Therapeutics in a research report on Friday, June 20th. They set an “outperform” rating for the company. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Contineum Therapeutics in a research report on Thursday, May 15th.

Contineum Therapeutics Trading Up 6.9%

Shares of CTNM opened at $11.17 on Wednesday. The company has a market cap of $313.21 million, a price-to-earnings ratio of -5.08 and a beta of 1.19. Contineum Therapeutics has a 1-year low of $3.35 and a 1-year high of $20.30. The company’s fifty day simple moving average is $6.25 and its 200 day simple moving average is $5.63.

Contineum Therapeutics (NASDAQ:CTNM) last issued its earnings results on Tuesday, August 5th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). As a group, research analysts forecast that Contineum Therapeutics will post -2.01 earnings per share for the current year.

Hedge Funds Weigh In On Contineum Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio bought a new position in Contineum Therapeutics during the first quarter worth $27,000. Qube Research & Technologies Ltd bought a new position in Contineum Therapeutics during the second quarter worth $43,000. Marex Group plc bought a new position in Contineum Therapeutics during the second quarter worth $45,000. Bridgeway Capital Management LLC bought a new stake in shares of Contineum Therapeutics in the second quarter valued at about $76,000. Finally, Jane Street Group LLC bought a new stake in shares of Contineum Therapeutics in the second quarter valued at about $81,000.

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).