Contineum Therapeutics (NASDAQ:CTNM) Cut to “Neutral” at Robert W. Baird

Robert W. Baird cut shares of Contineum Therapeutics (NASDAQ:CTNM) from an outperform rating to a neutral rating in a research report sent to investors on Tuesday morning, MarketBeat.com reports. The brokerage currently has $14.00 target price on the stock, down from their prior target price of $19.00.

Several other research firms have also recently commented on CTNM. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a report on Friday, July 17th. Royal Bank Of Canada lifted their price objective on Contineum Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Stifel Nicolaus set a $28.00 price objective on Contineum Therapeutics in a report on Wednesday, September 30th. Wall Street Zen cut Contineum Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Finally, Morgan Stanley cut their target price on Contineum Therapeutics from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Monday, September 28th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Contineum Therapeutics presently has a consensus rating of “Hold” and an average target price of $22.33.

Contineum Therapeutics Trading Down 2.9%

CTNM opened at $7.90 on Tuesday. The stock has a 50-day moving average of $14.17 and a 200-day moving average of $13.80. Contineum Therapeutics has a 52-week low of $7.72 and a 52-week high of $17.78.

Contineum Therapeutics (NASDAQ:CTNM) last posted its earnings results on Thursday, July 30th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.05. As a group, equities research analysts forecast that Contineum Therapeutics will post -1.68 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC increased its stake in shares of Contineum Therapeutics by 11.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,734,836 shares of the company’s stock valued at $35,594,000 after buying an additional 285,857 shares during the period. Baker BROS. Advisors LP lifted its stake in shares of Contineum Therapeutics by 1,729.3% during the fourth quarter. Baker BROS. Advisors LP now owns 1,420,838 shares of the company’s stock valued at $16,240,000 after acquiring an additional 1,343,168 shares during the period. Commodore Capital LP acquired a new position in shares of Contineum Therapeutics during the fourth quarter valued at $9,331,000. Wellington Management Group LLP lifted its stake in shares of Contineum Therapeutics by 171.2% during the second quarter. Wellington Management Group LLP now owns 150,797 shares of the company’s stock valued at $2,472,000 after acquiring an additional 95,188 shares during the period. Finally, Eversept Partners LP boosted its holdings in Contineum Therapeutics by 6.5% in the first quarter. Eversept Partners LP now owns 146,411 shares of the company’s stock valued at $1,912,000 after acquiring an additional 8,918 shares during the last quarter.

Contineum Therapeutics Company Profile

Contineum Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines for diseases of the central nervous system. The company’s research is centered on therapeutics designed to promote remyelination, the repair of damaged myelin that supports nerve function, and to address neuroinflammation and other mechanisms involved in neurological disorders.

Contineum’s pipeline includes PIPE-307, an oral, selective M1 muscarinic receptor antagonist being investigated for its potential to promote remyelination in multiple sclerosis.