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

Contineum Therapeutics (NASDAQ:CTNM) had its target price dropped by stock analysts at Royal Bank of Canada from $32.00 to $31.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 74.45% from the company’s previous close.

Several other research analysts have also weighed in on CTNM. Baird R W raised 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 research report on Tuesday, October 22nd. They set an “outperform” rating and a $32.00 price target on the stock. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Contineum Therapeutics has an average rating of “Buy” and an average target price of $29.25.

Contineum Therapeutics Stock Up 3.1 %

CTNM traded up $0.53 during trading on Thursday, reaching $17.77. 29,002 shares of the stock were exchanged, compared to its average volume of 79,236. Contineum Therapeutics has a 1 year low of $13.27 and a 1 year high of $22.00. The business’s 50 day moving average price is $17.61 and its two-hundred day moving average price is $17.74.

Contineum Therapeutics (NASDAQ:CTNM) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.02). Analysts anticipate that Contineum Therapeutics will post -2.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CTNM. Perceptive Advisors LLC acquired a new stake in shares of Contineum Therapeutics during the second quarter worth $27,589,000. Driehaus Capital Management LLC acquired a new position in Contineum Therapeutics in the second quarter worth approximately $1,174,000. Squarepoint Ops LLC acquired a new position in shares of Contineum Therapeutics during the 2nd quarter worth $2,642,000. Sandia Investment Management LP acquired a new position in Contineum Therapeutics during the second quarter worth $88,000. Finally, Johnson & Johnson bought a new position in Contineum Therapeutics during the second quarter valued at about $34,853,000.

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).