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

Key Points

• Analysts maintain a consensus “Hold” rating on Contineum Therapeutics, with three buys, two holds, and one sell among six analysts. The average 12-month price target is $22.33, though targets range from $23 to $30 among several recent reports.
• CTNM opened at $9.39, below its 50-day and 200-day moving averages of $12.70 and $13.53, respectively. The stock has traded between $6.72 and $17.78 over the past year, with a market capitalization of approximately $353 million.
• The clinical-stage biopharmaceutical company is developing neurological and neuroinflammatory treatments, including PIPE-307 for potential remyelination in multiple sclerosis and PIPE-791 for progressive MS and other conditions.

Contineum Therapeutics, Inc. (NASDAQ:CTNM - Get Free Report) has received a consensus rating of "Hold" from the six research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $22.33.

Several equities analysts recently issued reports on CTNM shares. Royal Bank Of Canada boosted their price target on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Contineum Therapeutics in a report on Thursday, October 15th. JonesTrading lifted their price target on shares of Contineum Therapeutics from $24.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, October 15th. Stifel Nicolaus set a $28.00 price target on shares of Contineum Therapeutics in a research note on Wednesday, September 30th. Finally, Wall Street Zen cut Contineum Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, September 19th.

Contineum Therapeutics Stock Performance

Shares of CTNM stock opened at $9.39 on Monday. The stock's 50 day simple moving average is $12.70 and its 200 day simple moving average is $13.53. Contineum Therapeutics has a twelve month low of $6.72 and a twelve month high of $17.78. The company has a market capitalization of $353.25 million, a price-to-earnings ratio of -5.43 and a beta of 1.08.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.05. On average, analysts forecast 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 have recently bought and sold shares of CTNM. Janus Henderson Group PLC raised its holdings in shares of Contineum Therapeutics by 11.7% during the first quarter. Janus Henderson Group PLC now owns 2,734,836 shares of the company's stock valued at $35,594,000 after acquiring an additional 285,857 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Contineum Therapeutics by 171.2% in the 2nd quarter. Wellington Management Group LLP now owns 150,797 shares of the company's stock valued at $2,472,000 after purchasing an additional 95,188 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of Contineum Therapeutics during the 1st quarter valued at about $782,000. Bank of America Corp DE increased its stake in Contineum Therapeutics by 411.9% in the 1st quarter. Bank of America Corp DE now owns 47,449 shares of the company's stock valued at $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 during the 3rd quarter valued at $508,000.

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.

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