Contineum Therapeutics, Inc. (NASDAQ:CTNM) Receives $24.80 Average PT from Analysts

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have earned a consensus rating of “Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $24.80.

A number of brokerages recently commented on CTNM. Morgan Stanley reissued an “overweight” rating and issued a $25.00 price objective on shares of Contineum Therapeutics in a research note on Friday, March 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 price target on shares of Contineum Therapeutics in a research note on Thursday, January 9th. Jones Trading assumed coverage on shares of Contineum Therapeutics in a research note on Thursday, March 13th. They set a “buy” rating and a $23.00 price target on the stock. Finally, Robert W. Baird decreased their price target on shares of Contineum Therapeutics from $32.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th.

Institutional Investors Weigh In On Contineum Therapeutics

Several hedge funds have recently modified their holdings of CTNM. Franklin Resources Inc. boosted its position in shares of Contineum Therapeutics by 130.9% in the third quarter. Franklin Resources Inc. now owns 1,447,550 shares of the company’s stock worth $27,706,000 after acquiring an additional 820,542 shares during the last quarter. Red Tree Management LLC purchased a new position in Contineum Therapeutics in the fourth quarter valued at approximately $9,349,000. FMR LLC raised its holdings in Contineum Therapeutics by 115.4% in the third quarter. FMR LLC now owns 696,927 shares of the company’s stock valued at $13,339,000 after buying an additional 373,327 shares during the period. Stempoint Capital LP purchased a new position in Contineum Therapeutics in the fourth quarter valued at approximately $3,894,000. Finally, Norges Bank purchased a new position in Contineum Therapeutics in the fourth quarter valued at approximately $2,487,000.

Contineum Therapeutics Trading Up 5.8 %

Shares of NASDAQ CTNM opened at $7.06 on Thursday. The stock has a market cap of $181.99 million and a price-to-earnings ratio of -1.44. Contineum Therapeutics has a 52 week low of $5.92 and a 52 week high of $22.00. The company’s 50-day moving average price is $9.25 and its 200 day moving average price is $13.87.

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).