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

Contineum Therapeutics (NASDAQ:CTNM) had its price target decreased by investment analysts at Royal Bank of Canada from $32.00 to $31.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 68.48% from the company’s current price.

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

Contineum Therapeutics Price Performance

Shares of Contineum Therapeutics stock opened at $18.40 on Thursday. The business’s 50 day simple moving average is $17.58 and its 200 day simple moving average is $17.77. Contineum Therapeutics has a 52-week low of $13.27 and a 52-week high of $22.00.

Contineum Therapeutics (NASDAQ:CTNM) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.01. As a group, equities analysts forecast that Contineum Therapeutics will post -2.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Contineum Therapeutics

Hedge funds have recently bought and sold shares of the stock. Sandia Investment Management LP acquired a new stake in Contineum Therapeutics during the 2nd quarter worth approximately $88,000. Rhumbline Advisers bought a new position in Contineum Therapeutics during the 2nd quarter worth $118,000. Bank of New York Mellon Corp acquired a new stake in shares of Contineum Therapeutics during the second quarter worth $356,000. Driehaus Capital Management LLC bought a new stake in shares of Contineum Therapeutics in the second quarter valued at about $1,174,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Contineum Therapeutics in the second quarter valued at about $2,642,000.

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).