Contineum Therapeutics (NASDAQ:CTNM) Price Target Raised to $30.00

Contineum Therapeutics (NASDAQ:CTNM) had its target price lifted by JonesTrading from $24.00 to $30.00 in a report issued on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Friday, July 17th. Royal Bank Of Canada increased their price objective on Contineum Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Morgan Stanley cut their price objective on Contineum Therapeutics from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Monday, September 28th. Stifel Nicolaus set a $28.00 target price on shares of Contineum Therapeutics in a research note on Wednesday, September 30th. Finally, Robert W. Baird downgraded shares of Contineum Therapeutics from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $19.00 to $14.00 in a report on Tuesday, October 13th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $22.33.

Contineum Therapeutics Price Performance

Contineum Therapeutics stock opened at $7.08 on Thursday. The company has a market cap of $266.36 million, a price-to-earnings ratio of -4.09 and a beta of 0.86. The firm has a 50-day moving average of $14.02 and a 200-day moving average of $13.75. Contineum Therapeutics has a one year low of $6.95 and a one year high of $17.78.

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

Hedge Funds Weigh In On Contineum Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Seven Fleet Capital Management LP increased its holdings in shares of Contineum Therapeutics by 123.8% during the 2nd quarter. Seven Fleet Capital Management LP now owns 60,541 shares of the company’s stock worth $992,000 after acquiring an additional 33,487 shares during the last quarter. 683 Capital Management LLC acquired a new stake in Contineum Therapeutics during the 4th quarter valued at $1,045,000. Janus Henderson Group PLC lifted its holdings in Contineum Therapeutics by 11.7% during the 1st 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 lifted its holdings 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 purchasing an additional 1,343,168 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Contineum Therapeutics by 171.2% during the second 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.

About Contineum Therapeutics

Contineum Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines for diseases of the central nervous system. The company’s research is centered on therapeutics designed to promote remyelination, the repair of damaged myelin that supports nerve function, and to address neuroinflammation and other mechanisms involved in neurological disorders.

Contineum’s pipeline includes PIPE-307, an oral, selective M1 muscarinic receptor antagonist being investigated for its potential to promote remyelination in multiple sclerosis.