Morgan Stanley Boosts Contineum Therapeutics (NASDAQ:CTNM) Price Target to $16.00

Contineum Therapeutics (NASDAQ:CTNM) had its target price upped by Morgan Stanley from $14.00 to $16.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 14.37% from the stock’s previous close.

Several other equities analysts have also recently commented on CTNM. Wall Street Zen upgraded shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Robert W. Baird raised their price target on shares of Contineum Therapeutics from $14.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Monday, April 20th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Contineum Therapeutics Price Performance

CTNM stock traded down $0.16 during trading hours on Thursday, reaching $13.99. The stock had a trading volume of 31,429 shares, compared to its average volume of 270,857. The stock has a 50-day simple moving average of $13.29 and a 200 day simple moving average of $12.67. The stock has a market capitalization of $523.03 million, a PE ratio of -7.21 and a beta of 0.89. Contineum Therapeutics has a fifty-two week low of $3.35 and a fifty-two week high of $16.33.

Contineum Therapeutics (NASDAQ:CTNM) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.16. On average, sell-side analysts forecast that Contineum Therapeutics will post -1.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Contineum Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in CTNM. Independent Financial Group LLC bought a new position in Contineum Therapeutics during the first quarter worth $353,000. Cannon Global Investment Management LLC bought a new position in Contineum Therapeutics during the first quarter worth $170,000. Commodore Capital LP bought a new position in Contineum Therapeutics during the fourth quarter worth $9,331,000. Baker BROS. Advisors LP raised its stake in Contineum Therapeutics by 1,729.3% during the fourth quarter. Baker BROS. Advisors LP now owns 1,420,838 shares of the company’s stock worth $16,240,000 after buying an additional 1,343,168 shares during the last quarter. Finally, Marex Group plc bought a new position in Contineum Therapeutics during the second quarter worth $45,000.

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). The company also develops PIPE-307, a novel, small molecule selective inhibitor of the muscarinic type 1 M1 receptor to treat depression and relapse remitting MS; and CTX-343, a peripherally-restricted LPA1R antagonist.