Contineum Therapeutics (NASDAQ:CTNM) Earns Outperform Rating from Analysts at Robert W. Baird

Robert W. Baird started coverage on shares of Contineum Therapeutics (NASDAQ:CTNM) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $32.00 price objective on the stock.

Separately, Royal Bank of Canada increased their price target on shares of Contineum Therapeutics from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $29.50.

Contineum Therapeutics Trading Up 0.1 %

Shares of CTNM stock opened at $16.27 on Tuesday. The company has a fifty day moving average price of $17.94 and a two-hundred day moving average price of $17.63. Contineum Therapeutics has a one year low of $13.27 and a one year high of $22.00.

Contineum Therapeutics (NASDAQ:CTNM) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.02). On average, research analysts expect that Contineum Therapeutics will post -2.04 EPS for the current year.

Institutional Trading of Contineum Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp acquired a new stake in Contineum Therapeutics in the second quarter valued at $356,000. Rhumbline Advisers bought a new stake in shares of Contineum Therapeutics during the second quarter worth about $118,000. Versant Venture Management LLC bought a new position in shares of Contineum Therapeutics in the second quarter valued at approximately $16,169,000. Johnson & Johnson purchased a new position in Contineum Therapeutics during the 2nd quarter worth $34,853,000. Finally, Sandia Investment Management LP purchased a new stake in Contineum Therapeutics in the 2nd quarter valued at about $88,000.

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).