Contineum Therapeutics, Inc. (NASDAQ:CTNM) Given Average Recommendation of “Hold” by Analysts

Contineum Therapeutics, Inc. (NASDAQ:CTNM) has been given an average rating of “Hold” by the five ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $20.25.

A number of equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday. Royal Bank Of Canada raised their price objective on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Friday, July 17th. Finally, Morgan Stanley upped their target price on shares of Contineum Therapeutics from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Thursday, May 14th.

Contineum Therapeutics Trading Up 2.5%

Shares of CTNM stock opened at $17.05 on Wednesday. Contineum Therapeutics has a 12 month low of $8.60 and a 12 month high of $17.51. The stock has a market cap of $641.42 million, a P/E ratio of -9.86 and a beta of 0.74. The company has a 50 day simple moving average of $14.65 and a two-hundred day simple moving average of $13.94.

Contineum Therapeutics (NASDAQ:CTNM) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.05. As a group, equities analysts forecast that Contineum Therapeutics will post -1.68 earnings per share for the current year.

Hedge Funds Weigh In On Contineum Therapeutics

Several large investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Contineum Therapeutics during the fourth quarter worth about $43,000. Strs Ohio purchased a new position in Contineum Therapeutics in the 1st quarter worth approximately $27,000. Royal Bank of Canada boosted its stake in Contineum Therapeutics by 73.5% in the 1st quarter. Royal Bank of Canada now owns 5,794 shares of the company’s stock worth $76,000 after purchasing an additional 2,454 shares during the period. California State Teachers Retirement System bought a new position in Contineum Therapeutics in the 2nd quarter worth approximately $99,000. Finally, Bank of America Corp DE grew its holdings in Contineum Therapeutics by 500.0% during the 3rd quarter. Bank of America Corp DE now owns 7,236 shares of the company’s stock valued at $85,000 after buying an additional 6,030 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). 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.