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

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have been assigned a consensus recommendation of “Buy” from the six brokerages that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $24.80.

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

Institutional Investors Weigh In On Contineum Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc increased its position in shares of Contineum Therapeutics by 74.0% during the fourth quarter. Legal & General Group Plc now owns 3,631 shares of the company’s stock worth $53,000 after acquiring an additional 1,544 shares during the period. Corebridge Financial Inc. grew its stake in Contineum Therapeutics by 73.1% during the 4th quarter. Corebridge Financial Inc. now owns 5,215 shares of the company’s stock worth $76,000 after purchasing an additional 2,202 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Contineum Therapeutics by 90.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,860 shares of the company’s stock worth $86,000 after purchasing an additional 2,783 shares during the period. MetLife Investment Management LLC acquired a new stake in Contineum Therapeutics in the 4th quarter valued at about $103,000. Finally, Rhumbline Advisers raised its position in Contineum Therapeutics by 36.3% in the 4th quarter. Rhumbline Advisers now owns 8,233 shares of the company’s stock valued at $121,000 after purchasing an additional 2,191 shares in the last quarter.

Contineum Therapeutics Stock Performance

CTNM opened at $4.01 on Monday. The stock has a market capitalization of $103.75 million and a PE ratio of -0.82. Contineum Therapeutics has a one year low of $3.91 and a one year high of $22.00. The business’s 50 day moving average price is $6.97 and its 200 day moving average price is $12.11.

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).