Brokerages Set Contineum Therapeutics, Inc. (NASDAQ:CTNM) Target Price at $22.20

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $22.20.

A number of research firms have issued reports on CTNM. Leerink Partnrs upgraded Contineum Therapeutics to a “strong-buy” rating in a research note on Thursday, September 25th. Leerink Partners began coverage on Contineum Therapeutics in a research note on Thursday, September 25th. They set an “outperform” rating and a $20.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Wednesday, October 8th. Finally, Morgan Stanley lifted their price target on Contineum Therapeutics from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, August 18th.

Hedge Funds Weigh In On Contineum Therapeutics

A number of hedge funds have recently added to or reduced their stakes in CTNM. Nuveen LLC acquired a new position in Contineum Therapeutics during the 1st quarter valued at about $93,000. ADAR1 Capital Management LLC boosted its stake in Contineum Therapeutics by 105.2% during the 1st quarter. ADAR1 Capital Management LLC now owns 168,765 shares of the company’s stock valued at $1,178,000 after purchasing an additional 86,531 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Contineum Therapeutics during the 1st quarter worth approximately $118,000. Strs Ohio bought a new position in shares of Contineum Therapeutics during the 1st quarter worth approximately $27,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Contineum Therapeutics during the 2nd quarter worth approximately $140,000.

Contineum Therapeutics Price Performance

Shares of CTNM opened at $10.90 on Thursday. The stock has a 50-day moving average of $11.34 and a 200-day moving average of $7.02. The company has a market cap of $305.64 million, a PE ratio of -4.95 and a beta of 1.29. Contineum Therapeutics has a one year low of $3.35 and a one year high of $20.24.

Contineum Therapeutics (NASDAQ:CTNM) last issued its earnings results on Tuesday, August 5th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.06). Analysts expect that Contineum Therapeutics will post -2.01 EPS for the current fiscal year.

Contineum Therapeutics Company Profile

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).