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

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

Several other equities analysts have also recently issued reports on CTNM. Robert W. Baird assumed coverage on Contineum Therapeutics in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $32.00 price objective for the company. Baird R W raised shares of Contineum Therapeutics to a “strong-buy” rating in a report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s 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

CTNM traded down $0.15 during trading on Thursday, hitting $18.40. The stock had a trading volume of 44,392 shares, compared to its average volume of 79,641. The stock has a 50 day simple moving average of $17.60 and a two-hundred day simple moving average of $17.75. 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 Tuesday, August 13th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.02). As a group, analysts predict that Contineum Therapeutics will post -2.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Contineum Therapeutics

Hedge funds have recently made changes to their positions in the company. Johnson & Johnson acquired a new position in Contineum Therapeutics in the 2nd quarter valued at $34,853,000. Perceptive Advisors LLC acquired a new position in Contineum Therapeutics in the 2nd quarter valued at about $27,589,000. Versant Venture Management LLC acquired a new stake in shares of Contineum Therapeutics during the 2nd quarter worth approximately $16,169,000. Squarepoint Ops LLC acquired a new position in Contineum Therapeutics in the second quarter valued at approximately $2,642,000. Finally, Driehaus Capital Management LLC acquired a new stake in Contineum Therapeutics during the second quarter worth $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).