Contineum Therapeutics (NASDAQ:CTNM) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Contineum Therapeutics from “sell” to “hold,” while the broader analyst consensus remains “Hold” with an average price target of $20.25.
• Analyst views are mixed: Royal Bank of Canada rates the stock “outperform” with a $23 target, Morgan Stanley rates it “equal weight” at $16, and Weiss Ratings maintains a “sell” rating.
• CTNM recently traded at $17.19, near its 52-week high of $17.35, and reported quarterly EPS of negative $0.40—better than the estimated negative $0.45.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Sunday.

A number of other research firms also recently weighed in on CTNM. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Contineum Therapeutics in a research report on Friday, July 17th. Royal Bank Of Canada increased their target price on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Finally, Morgan Stanley lifted their price target on shares of Contineum Therapeutics from $14.00 to $16.00 and gave the company an "equal weight" rating in a research note on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $20.25.

Contineum Therapeutics Price Performance

Contineum Therapeutics stock opened at $17.19 on Friday. The firm has a fifty day moving average price of $14.48 and a two-hundred day moving average price of $13.92. Contineum Therapeutics has a fifty-two week low of $8.60 and a fifty-two week high of $17.35. The firm has a market cap of $646.69 million, a price-to-earnings ratio of -9.94 and a beta of 0.74.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.40) EPS for the quarter, beating analysts' consensus estimates of ($0.45) by $0.05. As a group, sell-side analysts expect that Contineum Therapeutics will post -1.68 earnings per share for the current year.

Institutional Investors Weigh In On Contineum Therapeutics

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its position 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 during the period. Geode Capital Management LLC lifted its stake in shares of Contineum Therapeutics by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 213,869 shares of the company's stock worth $2,446,000 after buying an additional 2,819 shares during the last quarter. Eversept Partners LP lifted its stake in shares of Contineum Therapeutics by 2.1% during the 4th quarter. Eversept Partners LP now owns 137,493 shares of the company's stock worth $1,572,000 after buying an additional 2,874 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in shares of Contineum Therapeutics during the 4th quarter worth about $43,000. Finally, Strs Ohio bought a new stake in shares of Contineum Therapeutics during the 1st quarter worth about $27,000.

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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