Contineum Therapeutics, Inc. (NASDAQ:CTNM) Receives $19.00 Consensus PT from Brokerages

Contineum Therapeutics, Inc. (NASDAQ:CTNM) has received an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $19.00.

A number of research firms recently issued reports on CTNM. Morgan Stanley reissued an “equal weight” rating and issued a $14.00 price objective (down previously from $23.00) on shares of Contineum Therapeutics in a report on Thursday, January 8th. Wall Street Zen downgraded shares of Contineum Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Leerink Partners initiated coverage on Contineum Therapeutics in a research note on Thursday, November 13th. They issued an “outperform” rating and a $22.00 price objective for the company. Robert W. Baird lowered their target price on Contineum Therapeutics from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday, November 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Wednesday, January 21st.

Institutional Investors Weigh In On Contineum Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strs Ohio purchased a new position in Contineum Therapeutics during the first quarter valued at approximately $27,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Contineum Therapeutics during the 4th quarter valued at $43,000. Qube Research & Technologies Ltd purchased a new position in shares of Contineum Therapeutics during the 2nd quarter valued at $43,000. Marex Group plc bought a new position in Contineum Therapeutics in the 2nd quarter worth $45,000. Finally, Bridgeway Capital Management LLC purchased a new stake in Contineum Therapeutics in the 2nd quarter worth $76,000.

Contineum Therapeutics Stock Performance

Shares of NASDAQ:CTNM opened at $14.38 on Friday. The stock’s 50-day simple moving average is $11.73 and its two-hundred day simple moving average is $10.60. The stock has a market capitalization of $419.61 million, a price-to-earnings ratio of -6.39 and a beta of 1.17. Contineum Therapeutics has a 52-week low of $3.35 and a 52-week high of $15.31.

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.