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

Contineum Therapeutics (NASDAQ:CTNM) had its price target reduced by Royal Bank of Canada from $32.00 to $31.00 in a research note published on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

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

Contineum Therapeutics Stock Performance

NASDAQ CTNM opened at $18.40 on Thursday. The stock’s 50-day simple moving average is $17.58 and its two-hundred day simple moving average is $17.77. Contineum Therapeutics has a twelve month low of $13.27 and a twelve month high of $22.00.

Contineum Therapeutics (NASDAQ:CTNM) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.01. Research analysts predict that Contineum Therapeutics will post -2.04 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CTNM. Sandia Investment Management LP bought a new stake in shares of Contineum Therapeutics during the 2nd quarter valued at about $88,000. Rhumbline Advisers bought a new stake in Contineum Therapeutics during the 2nd quarter valued at approximately $118,000. Bank of New York Mellon Corp bought a new stake in Contineum Therapeutics during the 2nd quarter valued at approximately $356,000. Driehaus Capital Management LLC purchased a new position in shares of Contineum Therapeutics during the 2nd quarter worth approximately $1,174,000. Finally, Squarepoint Ops LLC bought a new position in shares of Contineum Therapeutics in the 2nd quarter worth approximately $2,642,000.

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).