Analysts Set Contineum Therapeutics, Inc. (NASDAQ:CTNM) Target Price at $24.80

Shares of Contineum Therapeutics, Inc. (NASDAQ:CTNM) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $24.80.

CTNM has been the subject of several recent research reports. Morgan Stanley reissued an “overweight” rating and set a $25.00 price target on shares of Contineum Therapeutics in a research report on Friday, March 7th. Robert W. Baird dropped their price target on Contineum Therapeutics from $32.00 to $16.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price target on shares of Contineum Therapeutics in a research report on Thursday, January 9th. Finally, Jones Trading began coverage on Contineum Therapeutics in a report on Thursday. They issued a “buy” rating and a $23.00 price target for the company.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its position in Contineum Therapeutics by 130.9% in the third quarter. Franklin Resources Inc. now owns 1,447,550 shares of the company’s stock worth $27,706,000 after buying an additional 820,542 shares during the last quarter. Red Tree Management LLC acquired a new stake in shares of Contineum Therapeutics during the fourth quarter valued at approximately $9,349,000. FMR LLC raised its holdings in shares of Contineum Therapeutics by 115.4% during the third quarter. FMR LLC now owns 696,927 shares of the company’s stock valued at $13,339,000 after acquiring an additional 373,327 shares during the period. Stempoint Capital LP acquired a new stake in shares of Contineum Therapeutics during the fourth quarter valued at approximately $3,894,000. Finally, Norges Bank acquired a new stake in shares of Contineum Therapeutics during the fourth quarter valued at approximately $2,487,000.

Contineum Therapeutics Stock Down 6.6 %

Shares of Contineum Therapeutics stock opened at $6.67 on Thursday. Contineum Therapeutics has a 52-week low of $5.92 and a 52-week high of $22.00. The company has a 50 day moving average of $9.39 and a 200 day moving average of $13.99. The company has a market capitalization of $171.94 million and a P/E ratio of -1.36.

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).