Contineum Therapeutics, Inc. (NASDAQ:CTNM) Receives $20.00 Consensus PT from Analysts

Contineum Therapeutics, Inc. (NASDAQ:CTNM) has been assigned a consensus rating of “Hold” from the five ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $20.00.

Several equities research analysts have commented on the stock. Wall Street Zen raised shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley lifted their price objective on Contineum Therapeutics from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Thursday, May 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Monday, April 20th.

Hedge Funds Weigh In On Contineum Therapeutics

Several large investors have recently made changes to their positions in CTNM. Janus Henderson Group PLC purchased a new position in Contineum Therapeutics in the fourth quarter valued at $27,906,000. RA Capital Management L.P. acquired a new position in shares of Contineum Therapeutics in the third quarter worth about $24,934,000. Baker BROS. Advisors LP boosted 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 worth $16,240,000 after acquiring an additional 1,343,168 shares in the last quarter. Suvretta Capital Management LLC boosted its stake in shares of Contineum Therapeutics by 65.2% during the 4th quarter. Suvretta Capital Management LLC now owns 2,841,334 shares of the company’s stock worth $32,476,000 after acquiring an additional 1,121,334 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Contineum Therapeutics during the 3rd quarter valued at about $11,178,000.

Contineum Therapeutics Price Performance

Contineum Therapeutics stock opened at $15.10 on Tuesday. Contineum Therapeutics has a 52 week low of $3.72 and a 52 week high of $16.91. The company has a market capitalization of $564.59 million, a price-to-earnings ratio of -7.74 and a beta of 0.70. The stock has a 50-day moving average price of $13.19 and a 200 day moving average price of $13.15.

Contineum Therapeutics (NASDAQ:CTNM) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.16. Research analysts anticipate that Contineum Therapeutics will post -1.68 EPS for the current fiscal year.

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.