Morgan Stanley Boosts Contineum Therapeutics (NASDAQ:CTNM) Price Target to $16.00

Contineum Therapeutics (NASDAQ:CTNM) had its target price raised by Morgan Stanley from $14.00 to $16.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 14.37% from the stock’s current price.

A number of other research firms also recently weighed in on CTNM. Wall Street Zen raised Contineum Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Robert W. Baird boosted their price target on shares of Contineum Therapeutics from $14.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Monday, April 20th. 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Contineum Therapeutics Trading Down 1.1%

NASDAQ CTNM traded down $0.16 on Thursday, hitting $13.99. 31,429 shares of the company were exchanged, compared to its average volume of 270,857. The company has a market cap of $523.03 million, a PE ratio of -7.21 and a beta of 0.89. Contineum Therapeutics has a 12 month low of $3.35 and a 12 month high of $16.33. The stock has a fifty day moving average of $13.29 and a 200-day moving average of $12.67.

Contineum Therapeutics (NASDAQ:CTNM) last issued its earnings results on Tuesday, May 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.16. On average, analysts expect that Contineum Therapeutics will post -1.88 earnings per share for the current year.

Hedge Funds Weigh In On Contineum Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC bought a new position in Contineum Therapeutics during the 4th quarter valued at $27,906,000. RA Capital Management L.P. bought a new position in Contineum Therapeutics during the 3rd quarter valued at $24,934,000. Baker BROS. Advisors LP lifted its stake in Contineum Therapeutics by 1,729.3% during the 4th quarter. Baker BROS. Advisors LP now owns 1,420,838 shares of the company’s stock valued at $16,240,000 after acquiring an additional 1,343,168 shares in the last quarter. Suvretta Capital Management LLC lifted its stake in Contineum Therapeutics by 65.2% during the 4th quarter. Suvretta Capital Management LLC now owns 2,841,334 shares of the company’s stock valued at $32,476,000 after acquiring an additional 1,121,334 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in Contineum Therapeutics during the 3rd quarter valued at $11,178,000.

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). The company also develops PIPE-307, a novel, small molecule selective inhibitor of the muscarinic type 1 M1 receptor to treat depression and relapse remitting MS; and CTX-343, a peripherally-restricted LPA1R antagonist.