Contineum Therapeutics, Inc. (NASDAQ:CTNM) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $22.60.

Several analysts have recently weighed in on the stock. Leerink Partnrs upgraded shares of Contineum Therapeutics to a “strong-buy” rating in a research report on Thursday, September 25th. Morgan Stanley raised their price target 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Wednesday, October 8th. Leerink Partners started coverage on Contineum Therapeutics in a research note on Thursday. They issued an “outperform” rating and a $22.00 price objective on the stock. Finally, Wall Street Zen upgraded Contineum Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th.

Contineum Therapeutics Trading Down 2.2%

Shares of NASDAQ CTNM opened at $10.66 on Monday. The firm has a market capitalization of $311.06 million, a price-to-earnings ratio of -4.74 and a beta of 1.27. Contineum Therapeutics has a one year low of $3.35 and a one year high of $18.19. The business has a fifty day simple moving average of $11.43 and a 200 day simple moving average of $7.57.

Contineum Therapeutics (NASDAQ:CTNM) last posted its quarterly earnings results on Thursday, October 30th. The company reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.13. On average, research analysts anticipate that Contineum Therapeutics will post -2.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CTNM. Franklin Resources Inc. boosted its stake in shares of Contineum Therapeutics by 7.8% in the 2nd quarter. Franklin Resources Inc. now owns 1,698,825 shares of the company’s stock valued at $6,744,000 after purchasing an additional 122,644 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Contineum Therapeutics by 29.6% during the 3rd quarter. Vanguard Group Inc. now owns 964,232 shares of the company’s stock valued at $11,330,000 after purchasing an additional 220,231 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in Contineum Therapeutics in the third quarter valued at about $11,178,000. Norges Bank bought a new stake in Contineum Therapeutics during the second quarter worth about $674,000. Finally, ADAR1 Capital Management LLC grew its stake in Contineum Therapeutics by 105.2% during the first quarter. ADAR1 Capital Management LLC now owns 168,765 shares of the company’s stock worth $1,178,000 after buying an additional 86,531 shares during the last quarter.

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).