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

Contineum Therapeutics (NASDAQ:CTNM) had its price target lifted by equities research analysts at Robert W. Baird from $14.00 to $20.00 in a report released on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 44.82% from the company’s previous close.

A number of other research firms have also weighed in on CTNM. Wall Street Zen raised shares of Contineum Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Morgan Stanley restated an “equal weight” rating and issued a $14.00 target price (down from $23.00) on shares of Contineum Therapeutics in a research note on Thursday, January 8th. Leerink Partners started coverage on Contineum Therapeutics in a research note on Thursday, November 13th. They set an “outperform” rating and a $22.00 price target on the stock. Royal Bank Of Canada lowered their price objective on shares of Contineum Therapeutics from $25.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, November 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Contineum Therapeutics in a research report on Wednesday, January 21st. Five 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.20.

Contineum Therapeutics Stock Performance

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

Contineum Therapeutics (NASDAQ:CTNM) last released its quarterly earnings data 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. As a group, research analysts predict that Contineum Therapeutics will post -2.01 earnings per share for the current year.

Hedge Funds Weigh In On Contineum Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTNM. Franklin Resources Inc. raised its holdings in Contineum Therapeutics by 7.8% in the 2nd quarter. Franklin Resources Inc. now owns 1,698,825 shares of the company’s stock valued at $6,744,000 after acquiring an additional 122,644 shares during the last quarter. Monaco Asset Management SAM purchased a new stake in Contineum Therapeutics during the second quarter worth about $298,000. Y Intercept Hong Kong Ltd acquired a new stake in Contineum Therapeutics during the 2nd quarter worth approximately $140,000. RBF Capital LLC acquired a new position in Contineum Therapeutics during the 2nd quarter worth $159,000. Finally, Baker BROS. Advisors LP increased 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 worth $16,240,000 after buying an additional 1,343,168 shares during the period.

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.