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

Contineum Therapeutics (NASDAQ:CTNM)‘s stock had its “outperform” rating reissued by Royal Bank of Canada in a report released on Thursday,Benzinga reports. They presently have a $31.00 target price on the stock. Royal Bank of Canada’s target price indicates a potential upside of 131.86% from the company’s previous close.

A number of other research analysts have also commented on 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 for the company. Baird R W raised shares of Contineum Therapeutics to a “strong-buy” rating in a report on Tuesday, October 22nd. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $29.25.

Contineum Therapeutics Price Performance

NASDAQ:CTNM traded down $0.40 during trading hours on Thursday, hitting $13.37. 198,448 shares of the company traded hands, compared to its average volume of 96,870. Contineum Therapeutics has a twelve month low of $12.33 and a twelve month high of $22.00. The firm has a 50-day moving average of $15.15 and a 200 day moving average of $17.42.

Contineum Therapeutics (NASDAQ:CTNM) last released its earnings results on Wednesday, November 6th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.01. Analysts anticipate that Contineum Therapeutics will post -2.01 earnings per share for the current year.

Institutional Investors Weigh In On Contineum Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Sandia Investment Management LP bought a new position in Contineum Therapeutics during the 2nd quarter valued at about $88,000. Rhumbline Advisers bought a new position in shares of Contineum Therapeutics in the second quarter valued at approximately $118,000. BNP Paribas Financial Markets boosted its holdings in shares of Contineum Therapeutics by 1,248.6% in the 3rd 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. Barclays PLC grew its position in Contineum Therapeutics by 248.6% during the 3rd quarter. Barclays PLC now owns 8,308 shares of the company’s stock worth $158,000 after acquiring an additional 5,925 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Contineum Therapeutics during the 2nd quarter valued at $356,000.

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).