Robert W. Baird Raises Contineum Therapeutics (NASDAQ:CTNM) Price Target to $20.00

Contineum Therapeutics (NASDAQ:CTNM) had its target price lifted by research analysts at Robert W. Baird from $14.00 to $20.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 44.82% from the company’s current price.

Several other equities research analysts have also commented on the stock. Leerink Partners began coverage on shares of Contineum Therapeutics in a research report on Thursday, November 13th. They set an “outperform” rating and a $22.00 target price on the stock. Wall Street Zen upgraded shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Morgan Stanley reissued an “equal weight” rating and set a $14.00 price objective (down from $23.00) on shares of Contineum Therapeutics in a report on Thursday, January 8th. Royal Bank Of Canada dropped their target price on shares of Contineum Therapeutics from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, November 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Contineum Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $20.20.

Contineum Therapeutics Stock Down 7.1%

Shares of NASDAQ:CTNM opened at $13.81 on Friday. Contineum Therapeutics has a fifty-two week low of $3.35 and a fifty-two week high of $16.33. The firm’s 50-day simple moving average is $13.33 and its 200-day simple moving average is $11.99. The company has a market cap of $402.98 million, a price-to-earnings ratio of -6.14 and a beta of 1.07.

Contineum Therapeutics (NASDAQ:CTNM) last issued its earnings results on Thursday, March 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.01. On average, research analysts forecast that Contineum Therapeutics will post -2.01 EPS for the current year.

Institutional Trading of Contineum Therapeutics

Large investors have recently modified their holdings of the business. Ikarian Capital LLC purchased a new position in shares of Contineum Therapeutics during the 4th quarter worth approximately $3,233,000. Sphera Funds Management LTD. acquired a new stake in Contineum Therapeutics during the 4th quarter valued at $1,983,000. Suvretta Capital Management LLC increased its position in Contineum Therapeutics by 65.2% during the fourth quarter. Suvretta Capital Management LLC now owns 2,841,334 shares of the company’s stock worth $32,476,000 after buying an additional 1,121,334 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Contineum Therapeutics in the fourth quarter worth $267,000. Finally, Occudo Quantitative Strategies LP acquired a new position in shares of Contineum Therapeutics in the fourth quarter worth $172,000.

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). The company also develops PIPE-307, a novel, small molecule selective inhibitor of the muscarinic type 1 M1 receptor to treat depression and relapse remitting MS; and CTX-343, a peripherally-restricted LPA1R antagonist.