Contineum Therapeutics (NASDAQ:CTNM) Reaches New 1-Year High – Still a Buy?

Contineum Therapeutics, Inc. (NASDAQ:CTNM) reached a new 52-week high during trading on Tuesday . The stock traded as high as $16.44 and last traded at $16.4250, with a volume of 360253 shares traded. The stock had previously closed at $15.00.

Wall Street Analysts Forecast Growth

CTNM has been the topic of a number of recent analyst reports. Wall Street Zen raised Contineum Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley raised their target price on Contineum Therapeutics from $14.00 to $16.00 and gave the company an “equal weight” rating in a research report on Thursday, May 14th. Robert W. Baird lifted their target price on 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 reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Monday, April 20th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.00.

Contineum Therapeutics Trading Up 8.9%

The company has a market capitalization of $610.95 million, a P/E ratio of -8.44 and a beta of 0.89. The business’s 50-day simple moving average is $13.02 and its 200 day simple moving average is $13.07.

Contineum Therapeutics (NASDAQ:CTNM) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.16. As a group, sell-side analysts predict that Contineum Therapeutics, Inc. will post -1.68 EPS for the current fiscal year.

Institutional Trading of Contineum Therapeutics

Institutional investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. bought a new position in Contineum Therapeutics during the fourth quarter valued at about $43,000. Strs Ohio bought a new stake in Contineum Therapeutics in the first quarter worth about $27,000. Royal Bank of Canada lifted its holdings in Contineum Therapeutics by 73.5% in the 1st quarter. Royal Bank of Canada now owns 5,794 shares of the company’s stock valued at $76,000 after acquiring an additional 2,454 shares during the last quarter. Bank of America Corp DE lifted its holdings in Contineum Therapeutics by 500.0% in the 3rd quarter. Bank of America Corp DE now owns 7,236 shares of the company’s stock valued at $85,000 after acquiring an additional 6,030 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of Contineum Therapeutics during the 2nd quarter valued at about $43,000.

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.