Contineum Therapeutics (NASDAQ:CTNM) Upgraded to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Contineum Therapeutics from a sell to a hold rating, adding to a mixed but generally positive analyst backdrop for the stock.
• Analyst sentiment overall leans bullish: four analysts rate CTNM a Buy, one a Hold, and one a Sell, with a consensus “Moderate Buy” and an average price target of $19.50.
• Contineum reported a narrower-than-expected quarterly loss, posting EPS of -$0.39 versus the expected -$0.55, while the stock was trading around $14.53 and remains within its 52-week range of $3.35 to $16.33.

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 note issued to investors on Saturday.

A number of other equities research analysts also recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Contineum Therapeutics from $14.00 to $20.00 and gave the company an "outperform" rating in a research report on Friday, March 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Contineum Therapeutics in a research report on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $19.50.

Contineum Therapeutics Stock Down 0.7%

Shares of NASDAQ:CTNM opened at $14.53 on Friday. Contineum Therapeutics has a fifty-two week low of $3.35 and a fifty-two week high of $16.33. The firm has a 50-day simple moving average of $13.42 and a 200 day simple moving average of $12.59. The company has a market cap of $542.55 million, a PE ratio of -7.45 and a beta of 0.89.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last announced 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. As a group, research analysts forecast that Contineum Therapeutics will post -1.99 EPS for the current fiscal year.

Institutional Trading of Contineum Therapeutics

A number of institutional investors have recently made changes to their positions in CTNM. Janus Henderson Group PLC acquired a new stake in shares of Contineum Therapeutics in the 4th quarter worth approximately $27,906,000. RA Capital Management L.P. acquired a new stake in Contineum Therapeutics during the third quarter valued at approximately $24,934,000. Baker BROS. Advisors LP lifted its stake in Contineum Therapeutics by 1,729.3% during the fourth 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 last quarter. Suvretta Capital Management LLC lifted its stake in Contineum Therapeutics by 65.2% during the fourth 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 last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in Contineum Therapeutics during the third quarter valued at approximately $11,178,000.

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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