Contineum Therapeutics, Inc. (NASDAQ:CTNM) Receives Consensus Rating of “Moderate Buy” from Analysts

Contineum Therapeutics, Inc. (NASDAQ:CTNM) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $19.50.

CTNM has been the subject of several recent research reports. Wall Street Zen downgraded shares of Contineum Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Wednesday, January 21st. Robert W. Baird upped their target price on Contineum Therapeutics from $14.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $14.00 price target (down from $23.00) on shares of Contineum Therapeutics in a research report on Thursday, January 8th.

Contineum Therapeutics Trading Up 0.8%

CTNM stock opened at $12.21 on Friday. The firm has a 50 day moving average of $13.90 and a 200-day moving average of $12.26. The company has a market cap of $455.92 million, a price-to-earnings ratio of -5.60 and a beta of 1.07. Contineum Therapeutics has a 12-month low of $3.35 and a 12-month high of $16.33.

Contineum Therapeutics (NASDAQ:CTNM) last released its quarterly earnings data on Thursday, March 5th. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.01. Sell-side analysts forecast that Contineum Therapeutics will post -2.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. purchased a new position in Contineum Therapeutics in the 4th quarter valued at about $43,000. Strs Ohio purchased a new stake in shares of Contineum Therapeutics during the first quarter worth about $27,000. Bank of America Corp DE raised its position in shares of Contineum Therapeutics by 500.0% in the third quarter. Bank of America Corp DE now owns 7,236 shares of the company’s stock valued at $85,000 after buying an additional 6,030 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Contineum Therapeutics in the second quarter valued at approximately $43,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in shares of Contineum Therapeutics during the fourth quarter valued at approximately $130,000.

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). 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.