Contineum Therapeutics (NASDAQ:CTNM) Rating Increased to Strong-Buy at Baird R W

Contineum Therapeutics (NASDAQ:CTNM) was upgraded by investment analysts at Baird R W to a “strong-buy” rating in a research note issued to investors on Tuesday, Zacks.com reports.

A number of other equities research analysts have also issued reports on CTNM. Royal Bank of Canada upped their target price on shares of Contineum Therapeutics from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Robert W. Baird initiated coverage on shares of Contineum Therapeutics in a research note on Tuesday. They set an “outperform” rating and a $32.00 price objective for the company. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $29.50.

Contineum Therapeutics Stock Performance

CTNM opened at $16.28 on Tuesday. Contineum Therapeutics has a twelve month low of $13.27 and a twelve month high of $22.00. The company has a 50-day moving average price of $18.00 and a 200 day moving average price of $17.65.

Contineum Therapeutics (NASDAQ:CTNM) last released its earnings results on Tuesday, August 13th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.02). As a group, equities analysts forecast that Contineum Therapeutics will post -2.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Johnson & Johnson purchased a new position in Contineum Therapeutics during the second quarter worth about $34,853,000. Perceptive Advisors LLC purchased a new stake in shares of Contineum Therapeutics during the 2nd quarter valued at approximately $27,589,000. Versant Venture Management LLC acquired a new position in Contineum Therapeutics in the second quarter valued at approximately $16,169,000. Squarepoint Ops LLC purchased a new position in Contineum Therapeutics in the second quarter worth approximately $2,642,000. Finally, Driehaus Capital Management LLC acquired a new stake in Contineum Therapeutics during the second quarter worth $1,174,000.

About Contineum Therapeutics

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).