Contineum Therapeutics (NASDAQ:CTNM) Stock Rating Upgraded by Leerink Partnrs

Contineum Therapeutics (NASDAQ:CTNM) was upgraded by investment analysts at Leerink Partnrs to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

Other research analysts have also recently issued reports about the company. Leerink Partners initiated coverage on Contineum Therapeutics in a report on Thursday. They set an “outperform” rating and a $20.00 target price on the stock. William Blair initiated coverage on Contineum Therapeutics in a report on Friday, June 20th. They set an “outperform” rating on the stock. Finally, Morgan Stanley boosted their target price on Contineum Therapeutics from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to data from MarketBeat.com, Contineum Therapeutics has an average rating of “Buy” and a consensus target price of $22.20.

Contineum Therapeutics Trading Up 9.8%

CTNM stock opened at $11.92 on Thursday. The stock has a market cap of $334.24 million, a price-to-earnings ratio of -5.42 and a beta of 1.19. The business’s 50-day moving average is $9.04 and its 200 day moving average is $6.21. Contineum Therapeutics has a 12-month low of $3.35 and a 12-month high of $20.24.

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 the consensus estimate of ($0.56) by ($0.06). As a group, equities analysts forecast that Contineum Therapeutics will post -2.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CTNM. Strs Ohio purchased a new position in Contineum Therapeutics during the first quarter worth about $27,000. Qube Research & Technologies Ltd purchased a new position in Contineum Therapeutics during the second quarter worth about $43,000. Marex Group plc purchased a new position in Contineum Therapeutics during the second quarter worth about $45,000. Bridgeway Capital Management LLC purchased a new position in Contineum Therapeutics during the second quarter worth about $76,000. Finally, Jane Street Group LLC purchased a new stake in Contineum Therapeutics in the second quarter valued at approximately $81,000.

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).