Robert W. Baird Cuts Contineum Therapeutics (NASDAQ:CTNM) Price Target to $19.00

Contineum Therapeutics (NASDAQ:CTNM) had its price objective trimmed by Robert W. Baird from $20.00 to $19.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts have also issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Contineum Therapeutics in a research note on Friday, July 17th. Royal Bank Of Canada boosted their price target on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Wall Street Zen upgraded shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, August 23rd. Four equities 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.80.

Contineum Therapeutics Stock Down 4.0%

Contineum Therapeutics stock opened at $13.21 on Tuesday. The business’s 50-day simple moving average is $15.26 and its 200 day simple moving average is $14.01. The stock has a market cap of $496.96 million, a price-to-earnings ratio of -7.64 and a beta of 0.75. Contineum Therapeutics has a 12-month low of $8.60 and a 12-month high of $17.78.

Contineum Therapeutics (NASDAQ:CTNM) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.05. As a group, sell-side analysts expect that Contineum Therapeutics will post -1.68 EPS for the current year.

Institutional Investors Weigh In On Contineum Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTNM. Royal Bank of Canada raised its holdings in Contineum Therapeutics by 73.5% in the first quarter. Royal Bank of Canada now owns 5,794 shares of the company’s stock worth $76,000 after purchasing an additional 2,454 shares during the period. Eversept Partners LP grew its holdings in shares of Contineum Therapeutics by 2.1% in the 4th quarter. Eversept Partners LP now owns 137,493 shares of the company’s stock valued at $1,572,000 after buying an additional 2,874 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Contineum Therapeutics by 21.5% in the 1st quarter. Renaissance Technologies LLC now owns 69,400 shares of the company’s stock valued at $906,000 after buying an additional 12,300 shares during the period. Cannon Global Investment Management LLC acquired a new position in shares of Contineum Therapeutics in the 1st quarter valued at $170,000. Finally, Independent Financial Group LLC bought a new stake in shares of Contineum Therapeutics in the 1st quarter valued at $353,000.

About Contineum Therapeutics

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.