Contineum Therapeutics (NASDAQ:CTNM) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Contineum Therapeutics (NASDAQ:CTNM) from a hold rating to a sell rating in a research report released on Saturday morning.

A number of other research firms have also recently weighed in on CTNM. Robert W. Baird upped their price objective on shares of Contineum Therapeutics from $14.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Wednesday, January 21st. Leerink Partners started coverage on Contineum Therapeutics in a report on Thursday, November 13th. They issued an “outperform” rating and a $22.00 price target for the company. Royal Bank Of Canada lowered their price objective on Contineum Therapeutics from $25.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, November 21st. Finally, Morgan Stanley restated an “equal weight” rating and set a $14.00 price objective (down from $23.00) on shares of Contineum Therapeutics in a report on Thursday, January 8th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.20.

Contineum Therapeutics Trading Up 0.5%

Shares of CTNM stock opened at $13.88 on Friday. The company has a market capitalization of $405.02 million, a PE ratio of -6.37 and a beta of 1.07. The firm has a fifty day simple moving average of $13.36 and a 200-day simple moving average of $12.05. Contineum Therapeutics has a twelve month low of $3.35 and a twelve month high of $16.33.

Contineum Therapeutics (NASDAQ:CTNM) last released its quarterly earnings results on Thursday, March 5th. The company reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.01. Equities research analysts predict that Contineum Therapeutics will post -2.01 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC bought a new stake in shares of Contineum Therapeutics in the 4th quarter valued at approximately $27,906,000. RA Capital Management L.P. bought a new position in Contineum Therapeutics during the third quarter worth $24,934,000. Baker BROS. Advisors LP boosted its holdings in Contineum Therapeutics by 1,729.3% in the fourth quarter. Baker BROS. Advisors LP now owns 1,420,838 shares of the company’s stock worth $16,240,000 after purchasing an additional 1,343,168 shares during the period. Suvretta Capital Management LLC boosted its holdings in Contineum Therapeutics by 65.2% in the fourth quarter. Suvretta Capital Management LLC now owns 2,841,334 shares of the company’s stock worth $32,476,000 after purchasing an additional 1,121,334 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in Contineum Therapeutics during the third quarter valued at $11,178,000.

Contineum Therapeutics Company Profile

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.