Contineum Therapeutics (NASDAQ:CTNM) Reaches New 12-Month High - Should You Buy?

Key Points

• Contineum Therapeutics shares surged 7.5% to a new 52-week high of $16.91, giving the company a market capitalization of approximately $648 million.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and an average price target of $20.25, with targets ranging from $16 to $23 and recent sell ratings from Wall Street Zen and Weiss Ratings.
• The clinical-stage biotech exceeded quarterly EPS expectations, reporting a loss of $0.40 per share versus the projected $0.45 loss, while developing drug candidates for neuroscience, inflammation, immunology, pulmonary fibrosis and multiple sclerosis.

Contineum Therapeutics, Inc. (NASDAQ:CTNM - Get Free Report)'s share price reached a new 52-week high on Friday . The company traded as high as $16.91 and last traded at $16.91, with a volume of 80193 shares traded. The stock had previously closed at $16.02.

Analyst Ratings Changes

A number of research firms have commented on CTNM. Wall Street Zen cut Contineum Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Morgan Stanley increased their price objective on shares of Contineum Therapeutics from $14.00 to $16.00 and gave the company an "equal weight" rating in a research report on Thursday, May 14th. Royal Bank Of Canada boosted their target price on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Contineum Therapeutics in a research note on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $20.25.

Contineum Therapeutics Trading Up 7.5%

The business's 50-day simple moving average is $14.37 and its 200-day simple moving average is $13.90. The company has a market capitalization of $647.82 million, a PE ratio of -9.95 and a beta of 0.74.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.45) by $0.05. Sell-side analysts forecast that Contineum Therapeutics, Inc. will post -1.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Contineum Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada lifted its stake in Contineum Therapeutics by 73.5% during the first quarter. Royal Bank of Canada now owns 5,794 shares of the company's stock worth $76,000 after purchasing an additional 2,454 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Contineum Therapeutics by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 213,869 shares of the company's stock valued at $2,446,000 after buying an additional 2,819 shares in the last quarter. Eversept Partners LP grew its stake in shares of Contineum Therapeutics by 2.1% in the fourth quarter. Eversept Partners LP now owns 137,493 shares of the company's stock valued at $1,572,000 after buying an additional 2,874 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Contineum Therapeutics in the 4th quarter valued at $43,000. Finally, Strs Ohio purchased a new stake in shares of Contineum Therapeutics in the 1st quarter valued at $27,000.

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). 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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