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

Key Points

• Contineum Therapeutics has a consensus analyst rating of “Moderate Buy” from six brokerages, with four buy ratings, one hold, and one sell. The average 12-month price target is $19.50.
• The company recently reported a quarterly loss of $0.39 per share, which was better than analysts expected by $0.16. Despite ongoing losses, analysts still expect a full-year loss of $1.88 per share.
• Shares closed at $14.53, near the stock’s 52-week high of $16.33. Institutional investors have also been active, with several firms either taking new positions or significantly increasing their stakes.

Contineum Therapeutics, Inc. (NASDAQ:CTNM - Get Free Report) has received a consensus rating of "Moderate Buy" from the six brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $19.50.

Several analysts recently issued reports on the company. Robert W. Baird lifted their target price on Contineum Therapeutics from $14.00 to $20.00 and gave the company an "outperform" rating in a research note on Friday, March 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Contineum Therapeutics in a research note on Monday, April 20th. Finally, Wall Street Zen raised Contineum Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday.

Institutional Trading of Contineum Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTNM. Janus Henderson Group PLC bought a new stake in Contineum Therapeutics during the 4th quarter valued at approximately $27,906,000. RA Capital Management L.P. bought a new stake in Contineum Therapeutics during the 3rd quarter valued at approximately $24,934,000. Baker BROS. Advisors LP raised its stake in Contineum Therapeutics by 1,729.3% during the 4th quarter. Baker BROS. Advisors LP now owns 1,420,838 shares of the company's stock valued at $16,240,000 after purchasing an additional 1,343,168 shares during the period. Suvretta Capital Management LLC raised its stake in Contineum Therapeutics by 65.2% during the 4th quarter. Suvretta Capital Management LLC now owns 2,841,334 shares of the company's stock valued at $32,476,000 after purchasing an additional 1,121,334 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in Contineum Therapeutics during the 3rd quarter valued at approximately $11,178,000.

Contineum Therapeutics Price Performance

CTNM stock opened at $14.53 on Monday. Contineum Therapeutics has a twelve month low of $3.35 and a twelve month high of $16.33. The stock has a market cap of $543.28 million, a P/E ratio of -7.45 and a beta of 0.89. The business's 50-day moving average price is $13.42 and its 200-day moving average price is $12.59.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.39) earnings per share for the quarter, beating analysts' consensus estimates of ($0.55) by $0.16. On average, equities research analysts expect that Contineum Therapeutics will post -1.88 earnings per share for the current fiscal year.

About Contineum Therapeutics

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). The company also develops PIPE-307, a novel, small molecule selective inhibitor of the muscarinic type 1 M1 receptor to treat depression and relapse remitting MS; and CTX-343, a peripherally-restricted LPA1R antagonist.

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