Morgan Stanley Forecasts Strong Price Appreciation for Contineum Therapeutics (NASDAQ:CTNM) Stock

Key Points

• Morgan Stanley has raised its price target for Contineum Therapeutics' stock from $20.00 to $21.00, indicating a potential upside of 184.55%.
• The stock currently has a consensus rating of "Buy", with five analysts giving it a buy rating and one a strong buy rating.
• Contineum Therapeutics recently reported an earnings miss with EPS of ($0.62), missing the consensus estimate of ($0.56).

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) had its target price upped by research analysts at Morgan Stanley from $20.00 to $21.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Morgan Stanley's price target indicates a potential upside of 111.27% from the company's current price.

CTNM has been the subject of a number of other research reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $31.00 target price on shares of Contineum Therapeutics in a research report on Thursday, May 15th. William Blair assumed coverage on shares of Contineum Therapeutics in a research report on Friday, June 20th. They issued an "outperform" rating for the company. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $22.75.

Contineum Therapeutics Trading Down 1.0%

NASDAQ:CTNM traded down $0.10 during trading hours on Monday, reaching $9.94. The company had a trading volume of 214,010 shares, compared to its average volume of 206,175. Contineum Therapeutics has a 52 week low of $3.35 and a 52 week high of $20.55. The firm has a market cap of $278.72 million, a price-to-earnings ratio of -4.52 and a beta of 1.04. The firm's 50 day moving average price is $5.39 and its 200-day moving average price is $5.55.

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

Institutional Trading of Contineum Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Marex Group plc purchased a new stake in Contineum Therapeutics in the 2nd quarter worth $45,000. Bridgeway Capital Management LLC purchased a new stake in Contineum Therapeutics in the 2nd quarter worth $76,000. Jane Street Group LLC purchased a new stake in Contineum Therapeutics in the 2nd quarter worth $81,000. RBF Capital LLC purchased a new stake in Contineum Therapeutics in the 2nd quarter worth $159,000. Finally, Qube Research & Technologies Ltd purchased a new stake in Contineum Therapeutics in the 2nd quarter worth $43,000.

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).