Contineum Therapeutics (NASDAQ:CTNM) Reaches New 1-Year High – Still a Buy?

Contineum Therapeutics, Inc. (NASDAQ:CTNM) reached a new 52-week high during trading on Tuesday . The company traded as high as $16.44 and last traded at $16.4250, with a volume of 360253 shares trading hands. The stock had previously closed at $15.00.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CTNM. Weiss Ratings reissued a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Monday, April 20th. Wall Street Zen raised shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Robert W. Baird lifted their price target on Contineum Therapeutics from $14.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Finally, Morgan Stanley boosted their price objective on Contineum Therapeutics from $14.00 to $16.00 and gave the company an “equal weight” rating in a report on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $20.00.

Contineum Therapeutics Stock Up 8.9%

The stock has a market cap of $610.95 million, a P/E ratio of -8.44 and a beta of 0.89. The firm’s 50 day simple moving average is $13.02 and its two-hundred day simple moving average is $13.07.

Contineum Therapeutics (NASDAQ:CTNM) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.16. As a group, equities analysts predict that Contineum Therapeutics, Inc. will post -1.68 EPS for the current year.

Institutional Trading of Contineum Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in CTNM. Janus Henderson Group PLC acquired a new stake in Contineum Therapeutics in the fourth quarter worth $27,906,000. RA Capital Management L.P. bought a new position in shares of Contineum Therapeutics during the third quarter worth about $24,934,000. Baker BROS. Advisors LP increased its holdings in shares of Contineum Therapeutics by 1,729.3% in the 4th quarter. Baker BROS. Advisors LP now owns 1,420,838 shares of the company’s stock worth $16,240,000 after acquiring an additional 1,343,168 shares during the period. Suvretta Capital Management LLC increased its holdings in shares of Contineum Therapeutics by 65.2% in the 4th quarter. Suvretta Capital Management LLC now owns 2,841,334 shares of the company’s stock worth $32,476,000 after acquiring an additional 1,121,334 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in Contineum Therapeutics in the 3rd quarter valued at about $11,178,000.

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.