Brokerages Set Contineum Therapeutics, Inc. (NASDAQ:CTNM) PT at $20.40

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have been given an average recommendation of “Moderate Buy” by the eight research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $20.40.

A number of equities research analysts have recently commented on the company. Wall Street Zen lowered Contineum Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. Robert W. Baird dropped their target price on shares of Contineum Therapeutics from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday, November 24th. Royal Bank Of Canada cut their price target on shares of Contineum Therapeutics from $25.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, November 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Wednesday, October 8th. Finally, Leerink Partners began coverage on shares of Contineum Therapeutics in a report on Thursday, November 13th. They set an “outperform” rating and a $22.00 price objective on the stock.

Contineum Therapeutics Stock Down 11.0%

Shares of CTNM stock opened at $11.63 on Friday. Contineum Therapeutics has a 12-month low of $3.35 and a 12-month high of $15.25. The firm has a fifty day moving average of $11.31 and a 200-day moving average of $8.64. The firm has a market capitalization of $339.36 million, a price-to-earnings ratio of -5.17 and a beta of 1.25.

Contineum Therapeutics (NASDAQ:CTNM) last posted its earnings results on Thursday, October 30th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.58) by $0.13. Research analysts expect that Contineum Therapeutics will post -2.01 earnings per share for the current year.

Institutional Trading of Contineum Therapeutics

Institutional investors have recently modified their holdings of the company. RA Capital Management L.P. bought a new position in shares of Contineum Therapeutics during the third quarter worth about $24,934,000. Balyasny Asset Management L.P. acquired a new position in Contineum Therapeutics during the 3rd quarter worth approximately $11,178,000. Vanguard Group Inc. boosted its position in Contineum Therapeutics by 29.6% during the 3rd quarter. Vanguard Group Inc. now owns 964,232 shares of the company’s stock worth $11,330,000 after acquiring an additional 220,231 shares during the last quarter. Susquehanna International Group LLP grew its stake in shares of Contineum Therapeutics by 914.0% during the 3rd quarter. Susquehanna International Group LLP now owns 204,119 shares of the company’s stock worth $2,398,000 after acquiring an additional 183,988 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Contineum Therapeutics in the second quarter valued at approximately $674,000.

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).