Contineum Therapeutics, Inc. (NASDAQ:CTNM) Receives $20.25 Consensus Target Price from Analysts

Contineum Therapeutics, Inc. (NASDAQ:CTNM) has been given a consensus rating of “Moderate Buy” by the six brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $20.80.

A number of equities research analysts have commented on CTNM shares. Robert W. Baird reduced their price target on shares of Contineum Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, September 15th. Royal Bank Of Canada upped their price objective on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Friday, July 17th. Wall Street Zen downgraded Contineum Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, JonesTrading decreased their target price on Contineum Therapeutics from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, September 15th.

Contineum Therapeutics Price Performance

Shares of NASDAQ:CTNM opened at $13.53 on Friday. Contineum Therapeutics has a 1 year low of $8.60 and a 1 year high of $17.78. The business’s 50-day moving average is $15.23 and its 200-day moving average is $14.00. The company has a market capitalization of $509.00 million, a price-to-earnings ratio of -7.82 and a beta of 0.75.

Contineum Therapeutics (NASDAQ:CTNM) last released its earnings results on Thursday, July 30th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.05. Analysts anticipate that Contineum Therapeutics will post -1.68 EPS for the current year.

Institutional Investors Weigh In On Contineum Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its holdings in Contineum Therapeutics by 11.7% during the first quarter. Janus Henderson Group PLC now owns 2,734,836 shares of the company’s stock valued at $35,594,000 after purchasing an additional 285,857 shares during the last quarter. Baker BROS. Advisors LP raised its stake in shares of 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 purchasing an additional 1,343,168 shares during the period. Commodore Capital LP purchased a new stake in Contineum Therapeutics during the 4th quarter worth about $9,331,000. UBS Group AG lifted its holdings in Contineum Therapeutics by 191.1% during the 4th quarter. UBS Group AG now owns 199,389 shares of the company’s stock worth $2,279,000 after purchasing an additional 130,885 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Contineum Therapeutics by 171.2% in the 2nd quarter. Wellington Management Group LLP now owns 150,797 shares of the company’s stock worth $2,472,000 after purchasing an additional 95,188 shares during the period.

Contineum Therapeutics Company Profile

Contineum Therapeutics, formerly known as Pipeline Therapeutics, is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for diseases of the central nervous system. The company’s research is aimed at promoting remyelination and neurorepair, processes that may restore damaged nerve function rather than solely managing disease symptoms.

Contineum’s lead programs include PIPE-307, an oral, brain-penetrant therapy designed to promote remyelination through selective inhibition of the M1 muscarinic receptor, and PIPE-791, an oral antagonist of the lysophosphatidic acid receptor 1.