Contineum Therapeutics (NASDAQ:CTNM) Given New $19.00 Price Target at Robert W. Baird

Contineum Therapeutics (NASDAQ:CTNM) had its target price dropped by research analysts at Robert W. Baird from $20.00 to $19.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 28.21% from the company’s current price.

A number of other equities research analysts also recently weighed in on CTNM. Royal Bank Of Canada raised their price target on Contineum Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Friday, July 17th. Finally, Wall Street Zen raised shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, August 23rd. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.00.

Contineum Therapeutics Stock Performance

Shares of CTNM opened at $14.82 on Tuesday. Contineum Therapeutics has a 52-week low of $8.60 and a 52-week high of $17.78. The stock’s 50-day simple moving average is $15.36 and its 200 day simple moving average is $14.05. The stock has a market capitalization of $557.53 million, a price-to-earnings ratio of -8.57 and a beta of 0.75.

Contineum Therapeutics (NASDAQ:CTNM) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.05. On average, research analysts forecast that Contineum Therapeutics will post -1.68 earnings per share for the current fiscal year.

Institutional Trading of Contineum Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. 683 Capital Management LLC purchased a new stake in Contineum Therapeutics during the 4th quarter valued at about $1,045,000. UBS Group AG boosted its holdings in shares of Contineum Therapeutics by 191.1% during the 4th quarter. UBS Group AG now owns 199,389 shares of the company’s stock valued at $2,279,000 after acquiring an additional 130,885 shares during the last quarter. Janus Henderson Group PLC lifted its position in Contineum Therapeutics by 11.7% during the first quarter. Janus Henderson Group PLC now owns 2,734,836 shares of the company’s stock valued at $35,594,000 after purchasing an additional 285,857 shares during the period. Baker BROS. Advisors LP raised its stake in Contineum Therapeutics by 1,729.3% during the 4th quarter. Baker BROS. Advisors LP now owns 1,420,838 shares of the company’s stock valued at $16,240,000 after buying an additional 1,343,168 shares during the last quarter. Finally, Monashee Investment Management LLC purchased a new stake in Contineum Therapeutics during the fourth quarter valued at $1,571,000.

Contineum Therapeutics Company Profile

Contineum Therapeutics, formerly known as Pipeline Therapeutics, is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for diseases of the central nervous system. The company’s research is aimed at promoting remyelination and neurorepair, processes that may restore damaged nerve function rather than solely managing disease symptoms.

Contineum’s lead programs include PIPE-307, an oral, brain-penetrant therapy designed to promote remyelination through selective inhibition of the M1 muscarinic receptor, and PIPE-791, an oral antagonist of the lysophosphatidic acid receptor 1.