Brokerages Set Contineum Therapeutics, Inc. (NASDAQ:CTNM) PT at $22.75

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have received a consensus rating of “Buy” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $22.75.

Several analysts recently commented on CTNM shares. William Blair started coverage on shares of Contineum Therapeutics in a report on Friday, June 20th. They set an “outperform” rating for the company. Morgan Stanley raised their price target on shares of Contineum Therapeutics from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $31.00 price target on shares of Contineum Therapeutics in a report on Thursday, May 15th.

Hedge Funds Weigh In On Contineum Therapeutics

A number of institutional investors have recently modified their holdings of CTNM. Strs Ohio bought a new position in shares of Contineum Therapeutics in the first quarter valued at approximately $27,000. Qube Research & Technologies Ltd bought a new position in shares of Contineum Therapeutics in the second quarter valued at approximately $43,000. Marex Group plc bought a new position in Contineum Therapeutics during the second quarter worth $45,000. Bridgeway Capital Management LLC bought a new position in Contineum Therapeutics during the second quarter worth $76,000. Finally, Jane Street Group LLC bought a new position in Contineum Therapeutics during the second quarter worth $81,000.

Contineum Therapeutics Price Performance

Shares of CTNM opened at $12.52 on Wednesday. The firm’s 50 day moving average is $7.00 and its 200-day moving average is $5.77. The stock has a market capitalization of $351.06 million, a P/E ratio of -5.69 and a beta of 1.19. Contineum Therapeutics has a 12-month low of $3.35 and a 12-month high of $20.30.

Contineum Therapeutics (NASDAQ:CTNM) last announced its earnings results on Tuesday, August 5th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.06). As a group, equities research analysts forecast that Contineum Therapeutics will post -2.01 EPS for the current fiscal year.

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).