Contineum Therapeutics (NASDAQ:CTNM) PT Raised to $32.00 at Royal Bank of Canada

Contineum Therapeutics (NASDAQ:CTNM) had its price target raised by Royal Bank of Canada from $30.00 to $32.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

CTNM has been the subject of a number of other research reports. Morgan Stanley initiated coverage on Contineum Therapeutics in a research report on Tuesday, April 30th. They issued an overweight rating and a $25.00 price objective for the company. Stifel Nicolaus initiated coverage on Contineum Therapeutics in a research note on Tuesday, April 30th. They issued a buy rating and a $29.00 target price for the company.

Contineum Therapeutics Stock Performance

Shares of CTNM stock opened at $17.14 on Wednesday. Contineum Therapeutics has a 1 year low of $13.27 and a 1 year high of $22.00. The business’s fifty day moving average is $19.22.

Contineum Therapeutics (NASDAQ:CTNM) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.02). Analysts predict that Contineum Therapeutics will post -1.95 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Johnson & Johnson acquired a new position in shares of Contineum Therapeutics in the 2nd quarter worth approximately $34,853,000. Perceptive Advisors LLC bought a new stake in Contineum Therapeutics in the second quarter valued at $27,589,000. Versant Venture Management LLC bought a new stake in Contineum Therapeutics in the second quarter valued at $16,169,000. Squarepoint Ops LLC acquired a new position in Contineum Therapeutics during the second quarter worth $2,642,000. Finally, Driehaus Capital Management LLC bought a new position in shares of Contineum Therapeutics during the second quarter valued at $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).