Contineum Therapeutics, Inc. (NASDAQ:CTNM) Stock Has Consensus Target Price of $22.33

Contineum Therapeutics, Inc. (NASDAQ:CTNM) has been assigned an average recommendation of “Hold” from the six brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $21.50.

CTNM has been the topic of several research analyst reports. Royal Bank Of Canada boosted their target price on Contineum Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Morgan Stanley decreased their price target on Contineum Therapeutics from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Monday, September 28th. JonesTrading raised their price target on Contineum Therapeutics from $24.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, October 15th. Stifel Nicolaus set a $23.00 price target on Contineum Therapeutics in a report on Wednesday. Finally, Robert W. Baird lowered Contineum Therapeutics from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $19.00 to $14.00 in a research note on Tuesday, October 13th.

Hedge Funds Weigh In On Contineum Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC grew its position in 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 purchasing an additional 285,857 shares during the last quarter. 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 last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Contineum Therapeutics in the first quarter worth $782,000. 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 last quarter. Finally, Profund Advisors LLC purchased a new position in shares of Contineum Therapeutics in the third quarter worth $508,000.

Contineum Therapeutics Stock Performance

Shares of CTNM opened at $9.79 on Monday. The company has a 50 day moving average of $12.27 and a two-hundred day moving average of $13.50. Contineum Therapeutics has a twelve month low of $6.72 and a twelve month high of $17.78.

Contineum Therapeutics (NASDAQ:CTNM) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). Equities analysts expect that Contineum Therapeutics will post -1.68 EPS for the current fiscal year.

About Contineum Therapeutics

Contineum Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for neurological and neuroinflammatory diseases. The company’s research is centered on restoring nervous-system function and addressing conditions in which inflammation or damage to myelin contributes to disease progression.

Contineum’s lead programs include PIPE-307, an oral, selective M1 muscarinic receptor antagonist being studied for its potential to promote remyelination in multiple sclerosis, and PIPE-791, an oral, central nervous system-penetrant LPA1 antagonist being developed for progressive multiple sclerosis and other fibrotic or neuroinflammatory conditions.