Contineum Therapeutics (NASDAQ:CTNM) Price Target Cut to $31.00 by Analysts at Royal Bank of Canada

Contineum Therapeutics (NASDAQ:CTNM) had its target price dropped by equities researchers at Royal Bank of Canada from $32.00 to $31.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 74.45% from the stock’s current price.

Several other analysts have also recently weighed in on the company. Baird R W raised Contineum Therapeutics to a “strong-buy” rating in a report on Tuesday, October 22nd. Robert W. Baird started coverage on shares of Contineum Therapeutics in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $32.00 target price for the company. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $29.25.

Contineum Therapeutics Stock Performance

CTNM traded up $0.53 during midday trading on Thursday, reaching $17.77. The company’s stock had a trading volume of 29,002 shares, compared to its average volume of 79,236. The company has a fifty day simple moving average of $17.61 and a 200 day simple moving average of $17.74. Contineum Therapeutics has a twelve month low of $13.27 and a twelve month high of $22.00.

Contineum Therapeutics (NASDAQ:CTNM) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.02). On average, equities analysts forecast that Contineum Therapeutics will post -2.04 earnings per share for the current year.

Institutional Investors Weigh In On Contineum Therapeutics

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

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).