Contineum Therapeutics, Inc. (NASDAQ:CTNM) Receives $24.80 Consensus Target Price from Brokerages

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have received a consensus rating of “Buy” from the six analysts that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $24.80.

Several research analysts recently commented on the stock. Jones Trading started coverage on shares of Contineum Therapeutics in a report on Thursday, March 13th. They issued a “buy” rating and a $23.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $25.00 price target on shares of Contineum Therapeutics in a report on Friday, March 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price objective on shares of Contineum Therapeutics in a report on Thursday, January 9th. Finally, Robert W. Baird cut their price target on Contineum Therapeutics from $32.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th.

Contineum Therapeutics Stock Down 2.9 %

CTNM stock opened at $4.01 on Monday. The business has a fifty day simple moving average of $6.97 and a 200-day simple moving average of $12.16. Contineum Therapeutics has a 52 week low of $3.91 and a 52 week high of $22.00. The company has a market cap of $103.75 million and a price-to-earnings ratio of -0.82.

Institutional Investors Weigh In On Contineum Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its position in Contineum Therapeutics by 74.0% in the 4th quarter. Legal & General Group Plc now owns 3,631 shares of the company’s stock worth $53,000 after purchasing an additional 1,544 shares during the last quarter. Corebridge Financial Inc. boosted its position in Contineum Therapeutics by 73.1% during the 4th quarter. Corebridge Financial Inc. now owns 5,215 shares of the company’s stock worth $76,000 after acquiring an additional 2,202 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Contineum Therapeutics by 90.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,860 shares of the company’s stock worth $86,000 after purchasing an additional 2,783 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in Contineum Therapeutics in the fourth quarter worth about $103,000. Finally, Rhumbline Advisers grew its position in Contineum Therapeutics by 36.3% in the 4th quarter. Rhumbline Advisers now owns 8,233 shares of the company’s stock valued at $121,000 after buying an additional 2,191 shares in the last quarter.

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).