Contineum Therapeutics, Inc. (NASDAQ:CTNM) Given Average Rating of “Buy” by Brokerages

Contineum Therapeutics, Inc. (NASDAQ:CTNM) has been given a consensus recommendation of “Buy” by the six research firms that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $24.80.

CTNM has been the subject of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 target price on shares of Contineum Therapeutics in a research note on Thursday, January 9th. Robert W. Baird reduced their price objective on shares of Contineum Therapeutics from $32.00 to $16.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Morgan Stanley reaffirmed an “overweight” rating and issued a $25.00 target price on shares of Contineum Therapeutics in a report on Friday, March 7th. Finally, Jones Trading started coverage on Contineum Therapeutics in a report on Thursday, March 13th. They issued a “buy” rating and a $23.00 target price for the company.

Contineum Therapeutics Stock Performance

Shares of Contineum Therapeutics stock opened at $7.49 on Thursday. Contineum Therapeutics has a 12-month low of $5.92 and a 12-month high of $22.00. The company has a market capitalization of $193.78 million and a P/E ratio of -1.53. The stock has a fifty day simple moving average of $9.01 and a 200 day simple moving average of $13.75.

Hedge Funds Weigh In On Contineum Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Stempoint Capital LP bought a new position in Contineum Therapeutics during the fourth quarter valued at $3,894,000. Red Tree Management LLC bought a new position in shares of Contineum Therapeutics in the fourth quarter worth $9,349,000. Nuveen Asset Management LLC bought a new position in Contineum Therapeutics in the 4th quarter worth about $195,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Contineum Therapeutics by 90.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,860 shares of the company’s stock valued at $86,000 after acquiring an additional 2,783 shares during the period. Finally, Janus Henderson Group PLC bought a new position in Contineum Therapeutics in the 4th quarter valued at $1,001,000.

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).