Contineum Therapeutics’ (CTNM) “Outperform” Rating Reiterated at Royal Bank of Canada

Contineum Therapeutics (NASDAQ:CTNM)‘s stock had its “outperform” rating reaffirmed by research analysts at Royal Bank of Canada in a research report issued on Thursday,Benzinga reports. They currently have a $31.00 price target on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 133.26% from the company’s previous close.

Other analysts have also recently issued reports about the company. Robert W. Baird began coverage on Contineum Therapeutics in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $32.00 target price on the stock. Baird R W upgraded Contineum Therapeutics to a “strong-buy” rating in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Contineum Therapeutics presently has a consensus rating of “Buy” and an average target price of $29.25.

Contineum Therapeutics Stock Down 0.6 %

Shares of Contineum Therapeutics stock opened at $13.29 on Thursday. Contineum Therapeutics has a one year low of $12.33 and a one year high of $22.00. The business’s 50 day simple moving average is $15.01 and its two-hundred day simple moving average is $17.35.

Contineum Therapeutics (NASDAQ:CTNM) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.01. On average, research analysts predict that Contineum Therapeutics will post -2.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Johnson & Johnson purchased a new stake in Contineum Therapeutics in the second quarter worth $34,853,000. Perceptive Advisors LLC bought a new stake in shares of Contineum Therapeutics during the 2nd quarter valued at $27,589,000. Franklin Resources Inc. grew its position in shares of Contineum Therapeutics by 130.9% in the 3rd 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 period. FMR LLC increased its stake in shares of Contineum Therapeutics by 115.4% in the 3rd quarter. FMR LLC now owns 696,927 shares of the company’s stock worth $13,339,000 after acquiring an additional 373,327 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Contineum Therapeutics during the 2nd quarter valued at about $2,642,000.

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).