Contineum Therapeutics (NASDAQ:CTNM) Lowered to “Sell” Rating by Wall Street Zen

Contineum Therapeutics (NASDAQ:CTNM) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other equities research analysts also recently commented on the company. Morgan Stanley reiterated an “equal weight” rating and issued a $14.00 target price (down from $23.00) on shares of Contineum Therapeutics in a research report on Thursday, January 8th. Leerink Partners began coverage on Contineum Therapeutics in a report on Thursday, November 13th. They set an “outperform” rating and a $22.00 price objective on the stock. Robert W. Baird increased their target price on Contineum Therapeutics from $14.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday. Royal Bank Of Canada cut their target price on shares of Contineum Therapeutics from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, November 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.20.

Contineum Therapeutics Stock Performance

CTNM opened at $13.88 on Friday. The stock has a market capitalization of $405.02 million, a price-to-earnings ratio of -6.37 and a beta of 1.07. The company has a fifty day moving average of $13.36 and a 200 day moving average of $12.03. Contineum Therapeutics has a fifty-two week low of $3.35 and a fifty-two week high of $16.33.

Contineum Therapeutics (NASDAQ:CTNM) last announced its quarterly earnings results on Thursday, March 5th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.01. On average, equities research analysts forecast that Contineum Therapeutics will post -2.01 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. lifted its holdings 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 worth $6,744,000 after acquiring an additional 122,644 shares during the last quarter. Monaco Asset Management SAM bought a new position in Contineum Therapeutics during the 2nd quarter valued at about $298,000. Y Intercept Hong Kong Ltd purchased a new stake in Contineum Therapeutics in the 2nd quarter worth about $140,000. RBF Capital LLC purchased a new stake in Contineum Therapeutics in the 2nd quarter worth about $159,000. Finally, Marex Group plc bought a new stake in Contineum Therapeutics in the second quarter worth about $45,000.

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). 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.