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

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have been assigned an average recommendation of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $24.80.

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

Contineum Therapeutics Stock Down 3.5 %

CTNM stock opened at $4.62 on Monday. Contineum Therapeutics has a 52 week low of $4.15 and a 52 week high of $22.00. The firm has a market capitalization of $119.53 million and a P/E ratio of -0.94. The company has a fifty day simple moving average of $7.18 and a two-hundred day simple moving average of $12.36.

Institutional Investors Weigh In On Contineum Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of CTNM. FMR LLC grew its position in Contineum Therapeutics by 115.4% in the 3rd quarter. FMR LLC now owns 696,927 shares of the company’s stock valued at $13,339,000 after acquiring an additional 373,327 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Contineum Therapeutics by 1,248.6% in the third quarter. BNP Paribas Financial Markets now owns 6,743 shares of the company’s stock worth $129,000 after purchasing an additional 6,243 shares during the last quarter. State Street Corp increased its stake in Contineum Therapeutics by 23.7% in the 3rd quarter. State Street Corp now owns 113,566 shares of the company’s stock worth $2,174,000 after buying an additional 21,760 shares during the period. Barclays PLC lifted its holdings in Contineum Therapeutics by 248.6% during the 3rd quarter. Barclays PLC now owns 8,308 shares of the company’s stock valued at $158,000 after buying an additional 5,925 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in Contineum Therapeutics by 130.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,447,550 shares of the company’s stock valued at $27,706,000 after buying an additional 820,542 shares during the period.

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).