Contineum Therapeutics (NASDAQ:CTNM) Coverage Initiated at Leerink Partners

Key Points

• Leerink Partners has initiated coverage on Contineum Therapeutics with an "outperform" rating and a price target of $20.00, suggesting a potential upside of 90.48% from the current stock price.
• Contineum's stock recently traded at $10.50, reflecting a market capitalization of approximately $294.42 million and a price-to-earnings ratio of -4.77.
• Several institutional investors, including Bank of America and Deutsche Bank, have significantly increased their positions in Contineum Therapeutics, indicating positive sentiment towards the stock.

Leerink Partners began coverage on shares of Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) in a research report issued on Thursday,Benzinga reports. The brokerage set an "outperform" rating and a $20.00 price target on the stock. Leerink Partners' target price indicates a potential upside of 90.48% from the stock's current price.

Other equities analysts have also recently issued research reports about the stock. William Blair assumed coverage on shares of Contineum Therapeutics in a research note on Friday, June 20th. They issued an "outperform" rating on the stock. Morgan Stanley lifted their price objective on shares of Contineum Therapeutics from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $22.20.

Contineum Therapeutics Trading Down 5.1%

Contineum Therapeutics stock opened at $10.50 on Thursday. The stock has a market cap of $294.42 million, a price-to-earnings ratio of -4.77 and a beta of 1.19. The company's 50-day moving average price is $8.75 and its two-hundred day moving average price is $6.15. Contineum Therapeutics has a 52 week low of $3.35 and a 52 week high of $20.24.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CTNM. Bank of America Corp DE boosted its holdings in shares of Contineum Therapeutics by 63.4% in the fourth quarter. Bank of America Corp DE now owns 9,132 shares of the company's stock worth $134,000 after buying an additional 3,542 shares during the period. Deutsche Bank AG acquired a new position in shares of Contineum Therapeutics in the fourth quarter worth about $236,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Contineum Therapeutics by 90.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,860 shares of the company's stock worth $86,000 after buying an additional 2,783 shares during the period. Nuveen Asset Management LLC acquired a new stake in shares of Contineum Therapeutics during the fourth quarter worth approximately $195,000. Finally, Nuveen LLC acquired a new stake in shares of Contineum Therapeutics during the first quarter worth approximately $93,000.

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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