Brokerages Set Contineum Therapeutics, Inc. (NASDAQ:CTNM) PT at $22.50

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM - Get Free Report) have earned a consensus rating of "Buy" from the six research firms that are currently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $22.50.

Several research firms have recently issued reports on CTNM. Royal Bank Of Canada reiterated an "outperform" rating and set a $31.00 price target on shares of Contineum Therapeutics in a research note on Thursday, May 15th. Morgan Stanley cut their price target on Contineum Therapeutics from $25.00 to $20.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Finally, William Blair began coverage on Contineum Therapeutics in a report on Friday, June 20th. They issued an "outperform" rating for the company.

Contineum Therapeutics Stock Performance

NASDAQ:CTNM traded up $0.04 during trading hours on Tuesday, hitting $3.77. 118,856 shares of the company's stock traded hands, compared to its average volume of 91,019. The firm has a market cap of $97.53 million, a P/E ratio of -1.91 and a beta of 0.85. Contineum Therapeutics has a twelve month low of $3.35 and a twelve month high of $21.92. The stock's fifty day moving average price is $4.04 and its two-hundred day moving average price is $6.67.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.06). On average, equities research analysts predict that Contineum Therapeutics will post -2.01 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Red Tree Management LLC acquired a new stake in Contineum Therapeutics during the 4th quarter worth $9,349,000. Stempoint Capital LP acquired a new stake in Contineum Therapeutics during the 4th quarter worth $3,894,000. Geode Capital Management LLC raised its stake in Contineum Therapeutics by 46.4% during the 4th quarter. Geode Capital Management LLC now owns 188,408 shares of the company's stock worth $2,761,000 after buying an additional 59,732 shares during the period. Norges Bank acquired a new stake in Contineum Therapeutics during the 4th quarter worth $2,487,000. Finally, ADAR1 Capital Management LLC raised its stake in Contineum Therapeutics by 105.2% during the 1st quarter. ADAR1 Capital Management LLC now owns 168,765 shares of the company's stock worth $1,178,000 after buying an additional 86,531 shares during the period.

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).