Contineum Therapeutics, Inc. (NASDAQ:CTNM) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have received a consensus recommendation of “Buy” from the six ratings firms that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $24.80.

Several research analysts recently commented on CTNM shares. Jones Trading began 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. Robert W. Baird dropped their price objective on shares of Contineum Therapeutics from $32.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 price objective on shares of Contineum Therapeutics in a research note on Thursday, January 9th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $25.00 price objective on shares of Contineum Therapeutics in a research note on Friday, March 7th.

Institutional Trading of Contineum Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. grew its position in shares of Contineum Therapeutics by 130.9% during the third quarter. Franklin Resources Inc. now owns 1,447,550 shares of the company’s stock worth $27,706,000 after buying an additional 820,542 shares in the last quarter. FMR LLC grew its position in shares of Contineum Therapeutics by 115.4% during the third quarter. FMR LLC now owns 696,927 shares of the company’s stock worth $13,339,000 after buying an additional 373,327 shares in the last quarter. Red Tree Management LLC acquired a new stake in shares of Contineum Therapeutics during the fourth quarter worth approximately $9,349,000. Stempoint Capital LP acquired a new stake in shares of Contineum Therapeutics during the fourth quarter worth approximately $3,894,000. Finally, Geode Capital Management LLC grew its position in shares of Contineum Therapeutics by 46.4% during the fourth quarter. Geode Capital Management LLC now owns 188,408 shares of the company’s stock worth $2,761,000 after buying an additional 59,732 shares in the last quarter.

Contineum Therapeutics Stock Performance

NASDAQ CTNM opened at $7.06 on Thursday. Contineum Therapeutics has a one year low of $5.92 and a one year high of $22.00. The company’s 50 day moving average price is $9.25 and its 200 day moving average price is $13.87. The firm has a market capitalization of $181.99 million and a price-to-earnings ratio of -1.44.

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).