Contineum Therapeutics’ (CTNM) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Contineum Therapeutics (NASDAQ:CTNM) in a report published on Thursday,Benzinga reports. Royal Bank of Canada currently has a $31.00 price target on the stock.

Other research analysts have also recently issued reports about the company. Baird R W raised Contineum Therapeutics to a “strong-buy” rating in a research report on Tuesday, October 22nd. Robert W. Baird assumed coverage on Contineum Therapeutics in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $32.00 price objective for the company. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $29.25.

Contineum Therapeutics Trading Down 0.6 %

Shares of CTNM opened at $13.29 on Thursday. Contineum Therapeutics has a one year low of $12.33 and a one year high of $22.00. The stock has a 50 day moving average price of $15.01 and a 200 day moving average price of $17.33.

Contineum Therapeutics (NASDAQ:CTNM) last posted its earnings results on Wednesday, November 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.01. Equities analysts anticipate that Contineum Therapeutics will post -2.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Sandia Investment Management LP acquired a new position in Contineum Therapeutics in the second quarter valued at approximately $88,000. Rhumbline Advisers bought a new position in shares of Contineum Therapeutics in the second quarter valued at $118,000. BNP Paribas Financial Markets increased its holdings in shares of Contineum Therapeutics by 1,248.6% in the third quarter. BNP Paribas Financial Markets now owns 6,743 shares of the company’s stock valued at $129,000 after buying an additional 6,243 shares in the last quarter. Barclays PLC raised its stake in Contineum Therapeutics by 248.6% during the 3rd quarter. Barclays PLC now owns 8,308 shares of the company’s stock valued at $158,000 after purchasing an additional 5,925 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in Contineum Therapeutics during the 2nd quarter valued at $356,000.

About Contineum Therapeutics

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).