Contineum Therapeutics (NASDAQ:CTNM) Stock Price Target Raised at JonesTrading

Contineum Therapeutics (NASDAQ:CTNM) had its price target raised by investment analysts at JonesTrading from $24.00 to $30.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. JonesTrading’s target price would indicate a potential upside of 275.61% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on CTNM. Morgan Stanley decreased their target price on Contineum Therapeutics from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Monday, September 28th. Royal Bank Of Canada lifted their price target on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Wall Street Zen lowered shares of Contineum Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Stifel Nicolaus set a $28.00 price objective on shares of Contineum Therapeutics in a research note on Wednesday, September 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Contineum Therapeutics presently has an average rating of “Hold” and a consensus price target of $22.33.

Contineum Therapeutics Price Performance

Shares of CTNM stock traded down $0.15 on Thursday, hitting $7.99. The company’s stock had a trading volume of 267,526 shares, compared to its average volume of 429,864. The stock has a market capitalization of $300.48 million, a price-to-earnings ratio of -4.63 and a beta of 0.86. Contineum Therapeutics has a fifty-two week low of $7.96 and a fifty-two week high of $17.78. The firm’s fifty day moving average price is $14.32 and its 200-day moving average price is $13.84.

Contineum Therapeutics (NASDAQ:CTNM) last posted its earnings results on Thursday, July 30th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.05. Analysts predict that Contineum Therapeutics will post -1.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. 683 Capital Management LLC bought a new stake in shares of Contineum Therapeutics in the fourth quarter valued at approximately $1,045,000. Seven Fleet Capital Management LP grew its stake in shares of Contineum Therapeutics by 123.8% in the second quarter. Seven Fleet Capital Management LP now owns 60,541 shares of the company’s stock worth $992,000 after acquiring an additional 33,487 shares during the last quarter. Baker BROS. Advisors LP grew its stake in shares of Contineum Therapeutics by 1,729.3% in the fourth quarter. Baker BROS. Advisors LP now owns 1,420,838 shares of the company’s stock worth $16,240,000 after acquiring an additional 1,343,168 shares during the last quarter. Janus Henderson Group PLC increased its position in Contineum Therapeutics by 11.7% during the first quarter. Janus Henderson Group PLC now owns 2,734,836 shares of the company’s stock worth $35,594,000 after acquiring an additional 285,857 shares during the period. Finally, Wellington Management Group LLP increased its position in Contineum Therapeutics by 171.2% during the second quarter. Wellington Management Group LLP now owns 150,797 shares of the company’s stock worth $2,472,000 after acquiring an additional 95,188 shares during the period.

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.