Contineum Therapeutics, Inc. (NASDAQ:CTNM) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• Contineum Therapeutics, Inc. (NASDAQ:CTNM) has received an average recommendation of "Buy" from eight covering brokerages, with six ratings as "buy" and two as "strong buy".
• The average twelve-month price target for CTNM shares among analysts is $22.20, indicating a significant potential upside from the current trading price.
• Recent hedge fund activity includes new positions in Contineum, with notable acquisitions from Strs Ohio and Qube Research & Technologies, reflecting growing investor interest.

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM - Get Free Report) have earned an average rating of "Buy" from the eight brokerages that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $22.20.

CTNM has been the topic of a number of analyst reports. Leerink Partnrs upgraded shares of Contineum Therapeutics to a "strong-buy" rating in a research report on Thursday. William Blair initiated coverage on shares of Contineum Therapeutics in a research report on Friday, June 20th. They set an "outperform" rating on the stock. Leerink Partners initiated coverage on shares of Contineum Therapeutics in a research report on Thursday. They set an "outperform" rating and a $20.00 target price on the stock. Finally, Morgan Stanley raised their target price on shares of Contineum Therapeutics from $20.00 to $21.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th.

Hedge Funds Weigh In On Contineum Therapeutics

A number of hedge funds have recently made changes to their positions in CTNM. Strs Ohio acquired a new position in shares of Contineum Therapeutics in the 1st quarter valued at $27,000. Qube Research & Technologies Ltd purchased a new position in shares of Contineum Therapeutics in the 2nd quarter valued at $43,000. Marex Group plc purchased a new position in shares of Contineum Therapeutics in the 2nd quarter valued at $45,000. Bridgeway Capital Management LLC purchased a new stake in Contineum Therapeutics during the 2nd quarter worth $76,000. Finally, Jane Street Group LLC purchased a new stake in Contineum Therapeutics during the 2nd quarter worth $81,000.

Contineum Therapeutics Stock Performance

Shares of NASDAQ CTNM opened at $11.92 on Friday. Contineum Therapeutics has a 1 year low of $3.35 and a 1 year high of $20.24. The firm's 50 day moving average price is $9.04 and its 200 day moving average price is $6.20. The firm has a market cap of $334.24 million, a P/E ratio of -5.42 and a beta of 1.19.

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

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