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

Contineum Therapeutics (NASDAQ:CTNM) had its price objective upped by Royal Bank of Canada from $30.00 to $32.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other analysts have also issued reports about the company. Stifel Nicolaus began coverage on Contineum Therapeutics in a research report on Tuesday, April 30th. They set a buy rating and a $29.00 target price on the stock. Morgan Stanley assumed coverage on Contineum Therapeutics in a report on Tuesday, April 30th. They set an overweight rating and a $25.00 price objective on the stock.

Contineum Therapeutics Trading Down 7.8 %

Contineum Therapeutics stock opened at $17.14 on Wednesday. Contineum Therapeutics has a one year low of $13.27 and a one year high of $22.00. The business’s 50 day moving average is $19.22.

Contineum Therapeutics (NASDAQ:CTNM) last announced its 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). Sell-side analysts expect that Contineum Therapeutics will post -1.95 EPS for the current year.

Institutional Investors Weigh In On Contineum Therapeutics

Institutional investors have recently modified their holdings of the stock. Squarepoint Ops LLC bought a new stake in Contineum Therapeutics in the second quarter valued at about $2,642,000. Rhumbline Advisers acquired a new position in shares of Contineum Therapeutics in the 2nd quarter worth approximately $118,000. Perceptive Advisors LLC bought a new stake in shares of Contineum Therapeutics in the 2nd quarter valued at approximately $27,589,000. Driehaus Capital Management LLC bought a new stake in shares of Contineum Therapeutics in the 2nd quarter valued at approximately $1,174,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Contineum Therapeutics during the 2nd quarter valued at approximately $356,000.

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).