Contineum Therapeutics, Inc. (NASDAQ:CTNM) Stock Has Consensus Target Price of $22.17 According to Analysts

Contineum Therapeutics, Inc. (NASDAQ:CTNM) has received an average rating of “Hold” from the six analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $21.33.

A number of research analysts have recently issued reports on CTNM shares. Wall Street Zen downgraded shares of Contineum Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Robert W. Baird downgraded shares of Contineum Therapeutics from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $19.00 to $14.00 in a report on Tuesday. Royal Bank Of Canada increased their price objective on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. JonesTrading cut their price objective on shares of Contineum Therapeutics from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, September 15th. Finally, Morgan Stanley reduced their target price on shares of Contineum Therapeutics from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Monday, September 28th.

Institutional Trading of Contineum Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Royal Bank of Canada lifted its stake in shares of Contineum Therapeutics by 73.5% in the 1st quarter. Royal Bank of Canada now owns 5,794 shares of the company’s stock valued at $76,000 after purchasing an additional 2,454 shares during the period. Eversept Partners LP boosted its holdings in Contineum Therapeutics by 2.1% during the fourth quarter. Eversept Partners LP now owns 137,493 shares of the company’s stock worth $1,572,000 after buying an additional 2,874 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Contineum Therapeutics by 21.5% during the first quarter. Renaissance Technologies LLC now owns 69,400 shares of the company’s stock worth $906,000 after buying an additional 12,300 shares in the last quarter. Cannon Global Investment Management LLC acquired a new stake in shares of Contineum Therapeutics during the 1st quarter valued at about $170,000. Finally, Independent Financial Group LLC acquired a new stake in Contineum Therapeutics in the first quarter valued at approximately $353,000.

Contineum Therapeutics Stock Down 3.3%

CTNM opened at $8.14 on Thursday. The stock’s fifty day moving average is $14.32 and its two-hundred day moving average is $13.84. The company has a market capitalization of $306.23 million, a P/E ratio of -4.71 and a beta of 0.86. Contineum Therapeutics has a 52 week low of $7.96 and a 52 week high of $17.78.

Contineum Therapeutics (NASDAQ:CTNM) last issued its earnings results on Thursday, July 30th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.05. Equities analysts anticipate that Contineum Therapeutics will post -1.68 earnings per share for the current year.

About Contineum Therapeutics

Contineum Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines for diseases of the central nervous system. The company’s research is centered on therapeutics designed to promote remyelination, the repair of damaged myelin that supports nerve function, and to address neuroinflammation and other mechanisms involved in neurological disorders.

Contineum’s pipeline includes PIPE-307, an oral, selective M1 muscarinic receptor antagonist being investigated for its potential to promote remyelination in multiple sclerosis.