Contineum Therapeutics (NASDAQ:CTNM) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Contineum Therapeutics (NASDAQ:CTNM) in a research note published on Thursday morning,Benzinga reports. Royal Bank of Canada currently has a $31.00 price target on the stock.

CTNM has been the topic of several other reports. Robert W. Baird assumed coverage on shares of Contineum Therapeutics in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $32.00 price objective on the stock. Baird R W upgraded shares of Contineum Therapeutics to a “strong-buy” rating in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $29.25.

Contineum Therapeutics Price Performance

Shares of NASDAQ CTNM opened at $13.37 on Thursday. The business has a 50-day moving average price of $15.08 and a 200 day moving average price of $17.39. Contineum Therapeutics has a 52-week low of $12.33 and a 52-week high of $22.00.

Contineum Therapeutics (NASDAQ:CTNM) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.01. As a group, sell-side analysts expect that Contineum Therapeutics will post -2.01 EPS for the current fiscal year.

Institutional Trading of Contineum Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in Contineum Therapeutics during the second quarter worth about $356,000. Rhumbline Advisers acquired a new stake in shares of Contineum Therapeutics in the 2nd quarter valued at approximately $118,000. Johnson & Johnson purchased a new stake in shares of Contineum Therapeutics in the second quarter valued at approximately $34,853,000. Sandia Investment Management LP acquired a new position in Contineum Therapeutics during the second quarter worth $88,000. Finally, Squarepoint Ops LLC purchased a new position in Contineum Therapeutics in the second quarter worth $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).