Royal Bank of Canada Has Lowered Expectations for Contineum Therapeutics (NASDAQ:CTNM) Stock Price

Contineum Therapeutics (NASDAQ:CTNM) had its price target lowered by analysts at Royal Bank of Canada from $32.00 to $31.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 68.48% from the company’s current price.

Other analysts have also recently issued reports about the company. Robert W. Baird initiated coverage on Contineum Therapeutics in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $32.00 price objective on the stock. 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. According to MarketBeat, Contineum Therapeutics has a consensus rating of “Buy” and a consensus price target of $29.25.

Contineum Therapeutics Price Performance

Shares of NASDAQ:CTNM opened at $18.40 on Thursday. The stock’s 50 day moving average price is $17.58 and its 200 day moving average price is $17.77. Contineum Therapeutics has a 12 month low of $13.27 and a 12 month high of $22.00.

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

Institutional Trading of Contineum Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Johnson & Johnson bought a new stake in shares of Contineum Therapeutics during the second quarter worth $34,853,000. Perceptive Advisors LLC acquired a new position in Contineum Therapeutics in the second quarter valued at approximately $27,589,000. Versant Venture Management LLC bought a new position in Contineum Therapeutics in the second quarter valued at approximately $16,169,000. Squarepoint Ops LLC acquired a new stake in Contineum Therapeutics during the 2nd quarter worth $2,642,000. Finally, Driehaus Capital Management LLC acquired a new position in shares of Contineum Therapeutics in the 2nd quarter valued at $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).