Contineum Therapeutics (NASDAQ:CTNM) Price Target Raised to $23.00 at Royal Bank Of Canada

Contineum Therapeutics (NASDAQ:CTNM) had its price objective upped by equities researchers at Royal Bank Of Canada from $22.00 to $23.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 51.20% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Morgan Stanley upped their price target on Contineum Therapeutics from $14.00 to $16.00 and gave the company an “equal weight” rating in a report on Thursday, May 14th. Wall Street Zen raised Contineum Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.25.

Contineum Therapeutics Trading Down 3.4%

Shares of NASDAQ CTNM traded down $0.54 during midday trading on Friday, reaching $15.21. The company’s stock had a trading volume of 294,943 shares, compared to its average volume of 290,306. The company has a 50 day moving average price of $13.61 and a 200 day moving average price of $13.61. Contineum Therapeutics has a one year low of $5.07 and a one year high of $16.91. The company has a market cap of $568.78 million, a price-to-earnings ratio of -7.81 and a beta of 0.70.

Contineum Therapeutics (NASDAQ:CTNM) last released its earnings results on Thursday, July 30th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.06. Research analysts anticipate that Contineum Therapeutics will post -1.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CTNM. Royal Bank of Canada grew its holdings in shares of Contineum Therapeutics by 73.5% during the first quarter. Royal Bank of Canada now owns 5,794 shares of the company’s stock valued at $76,000 after buying an additional 2,454 shares in the last quarter. Geode Capital Management LLC lifted its stake in Contineum Therapeutics by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 213,869 shares of the company’s stock worth $2,446,000 after acquiring an additional 2,819 shares in the last quarter. Eversept Partners LP lifted its stake in Contineum Therapeutics by 2.1% in the 4th quarter. Eversept Partners LP now owns 137,493 shares of the company’s stock worth $1,572,000 after acquiring an additional 2,874 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in Contineum Therapeutics during the 4th quarter worth about $43,000. Finally, Strs Ohio acquired a new stake in Contineum Therapeutics during the 1st quarter worth about $27,000.

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.