Morgan Stanley Cuts Contineum Therapeutics (NASDAQ:CTNM) Price Target to $20.00

Contineum Therapeutics (NASDAQ:CTNM) had its price objective lowered by stock analysts at Morgan Stanley from $25.00 to $20.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 432.62% from the stock’s current price.

CTNM has been the subject of a number of other research reports. Robert W. Baird reduced their price target on Contineum Therapeutics from $32.00 to $16.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Jones Trading started coverage on Contineum Therapeutics in a report on Thursday, March 13th. They set a “buy” rating and a $23.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 price target on shares of Contineum Therapeutics in a report on Thursday. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Contineum Therapeutics currently has an average rating of “Buy” and an average target price of $22.50.

Contineum Therapeutics Stock Up 7.0%

Contineum Therapeutics stock traded up $0.25 during midday trading on Monday, hitting $3.76. 21,241 shares of the stock were exchanged, compared to its average volume of 80,042. Contineum Therapeutics has a 52 week low of $3.43 and a 52 week high of $22.00. The stock has a market capitalization of $97.15 million and a PE ratio of -1.88. The company has a fifty day simple moving average of $5.29 and a two-hundred day simple moving average of $9.87.

Contineum Therapeutics (NASDAQ:CTNM) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). As a group, equities research analysts anticipate that Contineum Therapeutics will post -2.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Contineum Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of CTNM. Rhumbline Advisers raised its stake in Contineum Therapeutics by 36.3% in the 4th quarter. Rhumbline Advisers now owns 8,233 shares of the company’s stock worth $121,000 after purchasing an additional 2,191 shares in the last quarter. Barclays PLC grew its position in Contineum Therapeutics by 96.0% during the fourth quarter. Barclays PLC now owns 16,286 shares of the company’s stock worth $239,000 after buying an additional 7,978 shares in the last quarter. Geode Capital Management LLC increased its stake in Contineum Therapeutics by 46.4% during the 4th quarter. Geode Capital Management LLC now owns 188,408 shares of the company’s stock worth $2,761,000 after acquiring an additional 59,732 shares during the period. ADAR1 Capital Management LLC lifted its position in shares of Contineum Therapeutics by 817.1% during the 4th quarter. ADAR1 Capital Management LLC now owns 82,234 shares of the company’s stock valued at $1,205,000 after acquiring an additional 73,267 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in shares of Contineum Therapeutics by 419.3% during the 4th quarter. Wells Fargo & Company MN now owns 10,755 shares of the company’s stock worth $158,000 after purchasing an additional 8,684 shares in the last quarter.

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).