Royal Bank of Canada Lowers Contineum Therapeutics (NASDAQ:CTNM) Price Target to $31.00

Contineum Therapeutics (NASDAQ:CTNM - Free Report) had its price target decreased by Royal Bank of Canada from $32.00 to $31.00 in a research report report published on Thursday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other equities analysts have also recently weighed in on CTNM. Robert W. Baird began coverage on shares of Contineum Therapeutics in a research note on Tuesday, October 22nd. They set an "outperform" rating and a $32.00 target price for the company. Baird R W raised 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $29.25.

Contineum Therapeutics Stock Up 7.6 %

Shares of CTNM stock traded up $1.31 on Thursday, hitting $18.55. 125,059 shares of the stock traded hands, compared to its average volume of 79,876. The firm has a 50 day simple moving average of $17.60 and a two-hundred day simple moving average of $17.75. Contineum Therapeutics has a 52 week low of $13.27 and a 52 week high of $22.00.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.02). Sell-side analysts expect that Contineum Therapeutics will post -2.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Contineum Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Johnson & Johnson purchased a new position in Contineum Therapeutics during the 2nd quarter valued at $34,853,000. Perceptive Advisors LLC purchased a new stake in shares of Contineum Therapeutics during the second quarter valued at $27,589,000. Versant Venture Management LLC bought a new position in shares of Contineum Therapeutics in the second quarter worth about $16,169,000. Squarepoint Ops LLC purchased a new position in Contineum Therapeutics in the 2nd quarter worth about $2,642,000. Finally, Driehaus Capital Management LLC bought a new stake in Contineum Therapeutics during the 2nd quarter valued at about $1,174,000.

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).