Contineum Therapeutics, Inc. (NASDAQ:CTNM) Stock Has Average Price Target of $22.17 According to Brokerages

Key Points

• Analysts have a “Moderate Buy” consensus on Contineum Therapeutics, with four buy ratings, one hold, and one sell. The average 12-month price target is $22.17, above the stock’s reported $12.73 price.
• Recent analyst actions were mixed: RBC raised its target to $23, while Baird and JonesTrading lowered theirs; Wall Street Zen also downgraded the stock to sell.
• Contineum reported quarterly EPS of -$0.40, beating the consensus estimate of -$0.45. The clinical-stage biotech is developing central-nervous-system therapies, including PIPE-307 for potential remyelination treatment in multiple sclerosis.

Contineum Therapeutics, Inc. (NASDAQ:CTNM - Get Free Report) has received an average rating of "Moderate Buy" from the six research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $22.17.

A number of equities research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Contineum Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, September 19th. Royal Bank Of Canada lifted their price objective on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Robert W. Baird reduced their target price on shares of Contineum Therapeutics from $20.00 to $19.00 and set an "outperform" rating on the stock in a report on Tuesday, September 15th. JonesTrading decreased their target price on shares of Contineum Therapeutics from $26.00 to $24.00 and set a "buy" rating on the stock in a research report on Tuesday, September 15th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Contineum Therapeutics in a report on Friday, July 17th.

Contineum Therapeutics Price Performance

NASDAQ CTNM opened at $12.73 on Thursday. The stock has a market capitalization of $478.90 million, a PE ratio of -7.36 and a beta of 0.86. The business has a 50 day simple moving average of $14.86 and a two-hundred day simple moving average of $13.92. Contineum Therapeutics has a 1-year low of $8.60 and a 1-year high of $17.78.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.05. On average, analysts anticipate that Contineum Therapeutics will post -1.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Contineum Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its holdings in shares of Contineum Therapeutics by 73.5% in the 1st quarter. Royal Bank of Canada now owns 5,794 shares of the company's stock worth $76,000 after purchasing an additional 2,454 shares during the period. Cannon Global Investment Management LLC purchased a new stake in Contineum Therapeutics during the 1st quarter valued at $170,000. Seven Fleet Capital Management LP purchased a new stake in Contineum Therapeutics during the 1st quarter valued at $353,000. Independent Financial Group LLC bought a new stake in Contineum Therapeutics in the first quarter worth $353,000. Finally, Bank of America Corp DE lifted its position in 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.

About Contineum Therapeutics

Contineum Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines for diseases of the central nervous system. The company's research is centered on therapeutics designed to promote remyelination, the repair of damaged myelin that supports nerve function, and to address neuroinflammation and other mechanisms involved in neurological disorders.

Contineum's pipeline includes PIPE-307, an oral, selective M1 muscarinic receptor antagonist being investigated for its potential to promote remyelination in multiple sclerosis.

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