Contineum Therapeutics, Inc. (NASDAQ:CTNM) Receives Consensus Rating of "Buy" from Analysts

Key Points

• Contineum Therapeutics, Inc. has received a consensus recommendation of "Buy" from six research firms, with an average 12-month target price of $22.50.
• The stock has recently experienced a decline, trading down 3.9% to $6.47, and has a market cap of $167.38 million.
• Despite missing quarterly earnings estimates with a reported loss of ($0.62) per share, analysts forecast a total loss of -2.01 EPS for the current year.

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM - Get Free Report) have earned an average rating of "Buy" from the six brokerages that are covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $22.50.

A number of brokerages have recently issued reports on CTNM. Royal Bank Of Canada reissued an "outperform" rating and set a $31.00 price objective on shares of Contineum Therapeutics in a research report on Thursday, May 15th. William Blair started coverage on Contineum Therapeutics in a research report on Friday, June 20th. They set an "outperform" rating on the stock. Finally, Morgan Stanley reduced their price target on Contineum Therapeutics from $25.00 to $20.00 and set an "overweight" rating for the company in a research report on Monday, May 19th.

Institutional Trading of Contineum Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of CTNM. Legal & General Group Plc boosted its holdings in Contineum Therapeutics by 74.0% in the 4th quarter. Legal & General Group Plc now owns 3,631 shares of the company's stock worth $53,000 after buying an additional 1,544 shares during the period. Corebridge Financial Inc. boosted its stake in shares of Contineum Therapeutics by 73.1% in the fourth quarter. Corebridge Financial Inc. now owns 5,215 shares of the company's stock worth $76,000 after acquiring an additional 2,202 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Contineum Therapeutics by 90.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,860 shares of the company's stock worth $86,000 after purchasing an additional 2,783 shares in the last quarter. Bank of America Corp DE raised its stake in Contineum Therapeutics by 63.4% during the 4th quarter. Bank of America Corp DE now owns 9,132 shares of the company's stock valued at $134,000 after purchasing an additional 3,542 shares during the period. Finally, Strs Ohio bought a new stake in Contineum Therapeutics during the 1st quarter valued at approximately $27,000.

Contineum Therapeutics Stock Down 0.2%

Shares of NASDAQ CTNM traded down $0.02 on Friday, reaching $6.74. 9,284 shares of the company's stock traded hands, compared to its average volume of 130,514. Contineum Therapeutics has a 12 month low of $3.35 and a 12 month high of $20.55. The company has a market cap of $174.25 million, a price-to-earnings ratio of -3.06 and a beta of 1.04. The business's 50 day simple moving average is $4.76 and its two-hundred day simple moving average is $5.61.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($0.62) EPS for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.06). Analysts forecast that Contineum Therapeutics will post -2.01 earnings per share for the current fiscal year.

Contineum Therapeutics Company Profile

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).