Contineum Therapeutics (NASDAQ:CTNM) Earns “Outperform” Rating from Royal Bank of Canada

Contineum Therapeutics (NASDAQ:CTNM)‘s stock had its “outperform” rating reissued by stock analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $31.00 price target on the stock. Royal Bank of Canada’s price target points to a potential upside of 133.26% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Baird R W raised shares of Contineum Therapeutics to a “strong-buy” rating in a report on Tuesday, October 22nd. Robert W. Baird started coverage on Contineum Therapeutics in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $32.00 price objective for the company. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Contineum Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $29.25.

Contineum Therapeutics Stock Performance

NASDAQ:CTNM opened at $13.29 on Thursday. Contineum Therapeutics has a 1 year low of $12.33 and a 1 year high of $22.00. The stock’s fifty day moving average price is $15.01 and its two-hundred day moving average price is $17.35.

Contineum Therapeutics (NASDAQ:CTNM) last issued its earnings results on Wednesday, November 6th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.01. On average, analysts expect that Contineum Therapeutics will post -2.01 EPS for the current year.

Institutional Investors Weigh In On Contineum Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Johnson & Johnson bought a new position in shares of Contineum Therapeutics during the 2nd quarter valued at about $34,853,000. Perceptive Advisors LLC purchased a new stake in Contineum Therapeutics in the second quarter worth approximately $27,589,000. BNP Paribas Financial Markets raised its stake in shares of Contineum Therapeutics by 1,248.6% during the third quarter. BNP Paribas Financial Markets now owns 6,743 shares of the company’s stock worth $129,000 after acquiring an additional 6,243 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Contineum Therapeutics during the second quarter worth approximately $2,642,000. Finally, State Street Corp lifted its holdings in shares of Contineum Therapeutics by 23.7% in the 3rd quarter. State Street Corp now owns 113,566 shares of the company’s stock worth $2,174,000 after acquiring an additional 21,760 shares during the last quarter.

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).