Contineum Therapeutics (NASDAQ:CTNM) Now Covered by Leerink Partners

Leerink Partners started coverage on shares of Contineum Therapeutics (NASDAQ:CTNM) in a research report report published on Thursday, MarketBeat reports. The firm issued an outperform rating and a $20.00 price target on the stock.

Other equities research analysts have also issued reports about the stock. Morgan Stanley increased their target price on shares of Contineum Therapeutics from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. William Blair started coverage on shares of Contineum Therapeutics in a research note on Friday, June 20th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, Contineum Therapeutics currently has an average rating of “Buy” and a consensus price target of $22.20.

Contineum Therapeutics Stock Up 3.4%

CTNM stock opened at $10.86 on Thursday. The company’s 50-day simple moving average is $8.89 and its 200-day simple moving average is $6.18. Contineum Therapeutics has a 52-week low of $3.35 and a 52-week high of $20.24. The firm has a market cap of $304.51 million, a P/E ratio of -4.94 and a beta of 1.19.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio purchased a new position in Contineum Therapeutics in the 1st quarter valued at about $27,000. Qube Research & Technologies Ltd purchased a new position in Contineum Therapeutics in the 2nd quarter valued at about $43,000. Marex Group plc acquired a new stake in Contineum Therapeutics in the 2nd quarter valued at about $45,000. Bridgeway Capital Management LLC acquired a new stake in Contineum Therapeutics in the 2nd quarter valued at about $76,000. Finally, Jane Street Group LLC acquired a new stake in Contineum Therapeutics in the 2nd 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).