Contineum Therapeutics, Inc. (NASDAQ:CTNM) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have received an average recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $19.50.

A number of brokerages have recently issued reports on CTNM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Wednesday, January 21st. Robert W. Baird boosted their price objective on shares of Contineum Therapeutics from $14.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. Morgan Stanley reaffirmed an “equal weight” rating and set a $14.00 price objective (down from $23.00) on shares of Contineum Therapeutics in a report on Thursday, January 8th. Finally, Wall Street Zen lowered Contineum Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th.

Hedge Funds Weigh In On Contineum Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC bought a new stake in Contineum Therapeutics during the 4th quarter worth about $27,906,000. RA Capital Management L.P. bought a new position in shares of Contineum Therapeutics in the 3rd quarter valued at about $24,934,000. Baker BROS. Advisors LP grew its position in shares of Contineum Therapeutics by 1,729.3% during the 4th 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 period. Suvretta Capital Management LLC grew its position in shares of Contineum Therapeutics by 65.2% during the 4th quarter. Suvretta Capital Management LLC now owns 2,841,334 shares of the company’s stock worth $32,476,000 after buying an additional 1,121,334 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Contineum Therapeutics during the third quarter worth approximately $11,178,000.

Contineum Therapeutics Stock Down 2.3%

Contineum Therapeutics stock opened at $13.34 on Friday. The stock has a 50-day simple moving average of $14.09 and a 200 day simple moving average of $12.31. The stock has a market capitalization of $498.12 million, a price-to-earnings ratio of -6.12 and a beta of 1.07. Contineum Therapeutics has a 12-month low of $3.35 and a 12-month high of $16.33.

Contineum Therapeutics (NASDAQ:CTNM) last issued its quarterly earnings data on Thursday, March 5th. The company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.01. As a group, sell-side analysts anticipate that Contineum Therapeutics will post -2.01 EPS for the current year.

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.