Contineum Therapeutics (NASDAQ:CTNM) Price Target Cut to $17.00 by Analysts at Morgan Stanley

Contineum Therapeutics (NASDAQ:CTNM) had its price target cut by Morgan Stanley from $18.00 to $17.00 in a report issued on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other analysts have also recently commented on CTNM. Royal Bank Of Canada boosted their price target 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. Robert W. Baird cut their price objective on Contineum Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday, September 15th. JonesTrading reduced their target price on Contineum Therapeutics from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, September 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Friday, July 17th. Finally, Wall Street Zen downgraded Contineum Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Contineum Therapeutics Price Performance

CTNM stock opened at $12.73 on Monday. Contineum Therapeutics has a 1-year low of $8.60 and a 1-year high of $17.78. The business has a 50 day simple moving average of $15.06 and a two-hundred day simple moving average of $13.95. The company has a market capitalization of $478.90 million, a price-to-earnings ratio of -7.36 and a beta of 0.75.

Contineum Therapeutics (NASDAQ:CTNM) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.05. Sell-side analysts anticipate that Contineum Therapeutics will post -1.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Contineum Therapeutics

Institutional investors have recently bought and sold shares of the business. Baker BROS. Advisors LP grew its holdings 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 purchasing an additional 1,343,168 shares during the last quarter. Commodore Capital LP purchased a new position in Contineum Therapeutics in the 4th quarter worth about $9,331,000. Janus Henderson Group PLC lifted its holdings in Contineum Therapeutics by 11.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,734,836 shares of the company’s stock valued at $35,594,000 after buying an additional 285,857 shares in the last quarter. Monashee Investment Management LLC bought a new stake in Contineum Therapeutics during the 4th quarter valued at about $1,571,000. Finally, Wellington Management Group LLP boosted its position in Contineum Therapeutics by 171.2% in the 2nd quarter. Wellington Management Group LLP now owns 150,797 shares of the company’s stock valued at $2,472,000 after buying an additional 95,188 shares during the period.

About Contineum Therapeutics

Contineum Therapeutics, formerly known as Pipeline Therapeutics, is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for diseases of the central nervous system. The company’s research is aimed at promoting remyelination and neurorepair, processes that may restore damaged nerve function rather than solely managing disease symptoms.

Contineum’s lead programs include PIPE-307, an oral, brain-penetrant therapy designed to promote remyelination through selective inhibition of the M1 muscarinic receptor, and PIPE-791, an oral antagonist of the lysophosphatidic acid receptor 1.