Royal Bank of Canada Raises Contineum Therapeutics (NASDAQ:CTNM) Price Target to $32.00

Contineum Therapeutics (NASDAQ:CTNM) had its price target upped by stock analysts at Royal Bank of Canada from $30.00 to $32.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 76.02% from the stock’s previous close.

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

Contineum Therapeutics Price Performance

NASDAQ CTNM traded up $1.91 during trading on Wednesday, hitting $18.18. 15,078 shares of the stock traded hands, compared to its average volume of 83,326. The company has a 50-day moving average of $19.13. Contineum Therapeutics has a 12-month low of $13.27 and a 12-month high of $22.00.

Contineum Therapeutics (NASDAQ:CTNM) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.02). On average, analysts anticipate that Contineum Therapeutics will post -1.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Contineum Therapeutics

A number of institutional investors have recently modified their holdings of CTNM. Rhumbline Advisers bought a new position in shares of Contineum Therapeutics during the 2nd quarter worth about $118,000. Bank of New York Mellon Corp bought a new position in Contineum Therapeutics in the second quarter valued at $356,000. Versant Venture Management LLC acquired a new stake in shares of Contineum Therapeutics during the 2nd quarter worth about $16,169,000. Finally, Johnson & Johnson bought a new stake in Contineum Therapeutics in the 2nd quarter valued at about $34,853,000.

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).