Analysts Set Contineum Therapeutics, Inc. (NASDAQ:CTNM) Target Price at $19.50

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $20.00.

Several brokerages recently weighed in on CTNM. Morgan Stanley boosted their target price on Contineum Therapeutics from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday. Wall Street Zen upgraded Contineum Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Monday, April 20th. Finally, Robert W. Baird boosted their target price on Contineum Therapeutics from $14.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTNM. Janus Henderson Group PLC purchased a new position in Contineum Therapeutics during the 4th quarter worth $27,906,000. RA Capital Management L.P. purchased a new position in Contineum Therapeutics during the 3rd quarter worth $24,934,000. Baker BROS. Advisors LP grew its stake in Contineum Therapeutics by 1,729.3% during the 4th quarter. Baker BROS. Advisors LP now owns 1,420,838 shares of the company’s stock worth $16,240,000 after buying an additional 1,343,168 shares during the last quarter. Suvretta Capital Management LLC grew its stake in Contineum Therapeutics by 65.2% during the 4th quarter. Suvretta Capital Management LLC now owns 2,841,334 shares of the company’s stock worth $32,476,000 after buying an additional 1,121,334 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in Contineum Therapeutics during the 3rd quarter worth $11,178,000.

Contineum Therapeutics Stock Performance

CTNM opened at $13.72 on Monday. The firm has a market cap of $512.99 million, a price-to-earnings ratio of -7.04 and a beta of 0.89. Contineum Therapeutics has a 12 month low of $3.35 and a 12 month high of $16.33. The stock has a fifty day moving average price of $13.27 and a 200-day moving average price of $12.71.

Contineum Therapeutics (NASDAQ:CTNM) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.16. On average, equities research analysts forecast that Contineum Therapeutics will post -1.79 EPS for the current year.

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.