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

Contineum Therapeutics (NASDAQ:CTNM)‘s stock had its “outperform” rating reaffirmed by stock analysts at Royal Bank of Canada in a note issued to investors on Thursday,Benzinga reports. They presently have a $31.00 target price on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 131.86% from the company’s current price.

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

Contineum Therapeutics Trading Down 2.9 %

NASDAQ CTNM traded down $0.40 on Thursday, reaching $13.37. The company had a trading volume of 198,448 shares, compared to its average volume of 96,870. Contineum Therapeutics has a 52 week low of $12.33 and a 52 week high of $22.00. The stock’s 50 day moving average is $15.15 and its 200-day moving average is $17.42.

Contineum Therapeutics (NASDAQ:CTNM) last issued 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. Research analysts forecast that Contineum Therapeutics will post -2.01 EPS for the current year.

Hedge Funds Weigh In On Contineum Therapeutics

A number of large investors have recently made changes to their positions in CTNM. Sandia Investment Management LP acquired a new position in shares of Contineum Therapeutics during the 2nd quarter worth approximately $88,000. Rhumbline Advisers bought a new stake in shares of Contineum Therapeutics in the second quarter valued at approximately $118,000. BNP Paribas Financial Markets grew its position in 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 buying an additional 6,243 shares in the last quarter. Barclays PLC increased its stake 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 period. Finally, Bank of New York Mellon Corp acquired a new position in Contineum Therapeutics in the 2nd quarter valued at $356,000.

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).