Contineum Therapeutics, Inc. (CTNM) – What Are Brokerages Saying About This Stock?

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have received an average recommendation of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $22.17.

A number of equities research analysts have recently issued reports on CTNM shares. Royal Bank Of Canada upped their price objective on Contineum Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Stifel Nicolaus set a $28.00 target price on shares of Contineum Therapeutics in a report on Wednesday, September 30th. Robert W. Baird cut their price target on shares of Contineum Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday, September 15th. JonesTrading decreased their price objective on shares of Contineum Therapeutics from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, September 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Friday, July 17th.

Contineum Therapeutics Price Performance

Shares of NASDAQ:CTNM opened at $8.56 on Thursday. The company’s 50-day moving average price is $14.62 and its two-hundred day moving average price is $13.91. Contineum Therapeutics has a one year low of $8.43 and a one year high of $17.78. The stock has a market capitalization of $322.03 million, a PE ratio of -4.95 and a beta of 0.86.

Contineum Therapeutics (NASDAQ:CTNM) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.05. On average, analysts anticipate that Contineum Therapeutics will post -1.68 earnings per share for the current fiscal year.

Institutional Trading of Contineum Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of CTNM. Royal Bank of Canada raised its stake in Contineum Therapeutics by 73.5% in the 1st quarter. Royal Bank of Canada now owns 5,794 shares of the company’s stock valued at $76,000 after acquiring an additional 2,454 shares during the period. Eversept Partners LP raised its position in shares of Contineum Therapeutics by 2.1% in the fourth quarter. Eversept Partners LP now owns 137,493 shares of the company’s stock valued at $1,572,000 after purchasing an additional 2,874 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Contineum Therapeutics by 21.5% during the 1st quarter. Renaissance Technologies LLC now owns 69,400 shares of the company’s stock worth $906,000 after buying an additional 12,300 shares during the last quarter. Cannon Global Investment Management LLC bought a new position in Contineum Therapeutics in the 1st quarter valued at about $170,000. Finally, Independent Financial Group LLC bought a new stake in Contineum Therapeutics in the 1st quarter valued at $353,000.

Contineum Therapeutics Company Profile

Contineum Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines for diseases of the central nervous system. The company’s research is centered on therapeutics designed to promote remyelination, the repair of damaged myelin that supports nerve function, and to address neuroinflammation and other mechanisms involved in neurological disorders.

Contineum’s pipeline includes PIPE-307, an oral, selective M1 muscarinic receptor antagonist being investigated for its potential to promote remyelination in multiple sclerosis.