Morgan Stanley Has Lowered Expectations for Contineum Therapeutics (NASDAQ:CTNM) Stock Price

Contineum Therapeutics (NASDAQ:CTNM) had its price objective dropped by stock analysts at Morgan Stanley from $18.00 to $17.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 47.83% from the stock’s current price.

Other analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Contineum Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, September 19th. Royal Bank Of Canada increased their price objective on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Robert W. Baird cut their price objective on Contineum Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday, September 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Friday, July 17th. Finally, JonesTrading decreased their target price on Contineum Therapeutics from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, September 15th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Contineum Therapeutics Stock Performance

Shares of Contineum Therapeutics stock opened at $11.50 on Monday. The company has a market capitalization of $432.63 million, a P/E ratio of -6.65 and a beta of 0.75. The company has a fifty day moving average of $15.02 and a 200 day moving average of $13.92. Contineum Therapeutics has a fifty-two week low of $8.60 and a fifty-two week high of $17.78.

Contineum Therapeutics (NASDAQ:CTNM) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.05. Analysts forecast that Contineum Therapeutics will post -1.68 EPS for the current year.

Institutional Trading of Contineum Therapeutics

Several institutional investors have recently added to or reduced their stakes in CTNM. Seven Fleet Capital Management LP boosted its position in shares of Contineum Therapeutics by 123.8% during the second quarter. Seven Fleet Capital Management LP now owns 60,541 shares of the company’s stock valued at $992,000 after buying an additional 33,487 shares during the period. Wellington Management Group LLP raised its holdings in shares of Contineum Therapeutics by 171.2% in the second quarter. Wellington Management Group LLP now owns 150,797 shares of the company’s stock worth $2,472,000 after buying an additional 95,188 shares during the period. Bank of America Corp DE raised its holdings in shares of Contineum Therapeutics by 411.9% in the first quarter. Bank of America Corp DE now owns 47,449 shares of the company’s stock worth $620,000 after buying an additional 38,180 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Contineum Therapeutics by 11.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,734,836 shares of the company’s stock worth $35,594,000 after acquiring an additional 285,857 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of Contineum Therapeutics by 73.5% during the 1st quarter. Royal Bank of Canada now owns 5,794 shares of the company’s stock worth $76,000 after acquiring an additional 2,454 shares during the last quarter.

About Contineum Therapeutics

Contineum Therapeutics, formerly known as Pipeline Therapeutics, is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for diseases of the central nervous system. The company’s research is aimed at promoting remyelination and neurorepair, processes that may restore damaged nerve function rather than solely managing disease symptoms.

Contineum’s lead programs include PIPE-307, an oral, brain-penetrant therapy designed to promote remyelination through selective inhibition of the M1 muscarinic receptor, and PIPE-791, an oral antagonist of the lysophosphatidic acid receptor 1.