Contineum Therapeutics (NASDAQ:CTNM) Receives Equal Weight Rating from Morgan Stanley

Morgan Stanley reaffirmed their equal weight rating on shares of Contineum Therapeutics (NASDAQ:CTNM) in a report released on Thursday morning, MarketBeat reports. Morgan Stanley currently has a $14.00 target price on the stock, down from their prior target price of $23.00.

A number of other brokerages have also weighed in on CTNM. Royal Bank Of Canada cut their target price on shares of Contineum Therapeutics from $25.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, November 21st. Wall Street Zen raised Contineum Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, December 21st. Leerink Partners initiated coverage on Contineum Therapeutics in a report on Thursday, November 13th. They set an “outperform” rating and a $22.00 target price on the stock. Robert W. Baird lowered their target price on Contineum Therapeutics from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday, November 24th. Finally, Leerink Partnrs raised Contineum Therapeutics to a “strong-buy” rating in a research note on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Contineum Therapeutics Stock Down 4.1%

Shares of Contineum Therapeutics stock opened at $9.17 on Thursday. The company has a market cap of $267.61 million, a PE ratio of -4.08 and a beta of 1.21. The business has a 50 day moving average of $11.28 and a 200 day moving average of $9.52. Contineum Therapeutics has a 52 week low of $3.35 and a 52 week high of $13.57.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd bought a new stake in Contineum Therapeutics in the first quarter worth $118,000. Strs Ohio bought a new position in Contineum Therapeutics in the 1st quarter worth about $27,000. Y Intercept Hong Kong Ltd bought a new position in Contineum Therapeutics in the 2nd quarter worth about $140,000. Monaco Asset Management SAM purchased a new stake in Contineum Therapeutics during the 2nd quarter valued at about $298,000. Finally, Franklin Resources Inc. increased its stake in Contineum Therapeutics by 7.8% during 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.

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). The company also develops PIPE-307, a novel, small molecule selective inhibitor of the muscarinic type 1 M1 receptor to treat depression and relapse remitting MS; and CTX-343, a peripherally-restricted LPA1R antagonist.