Contineum Therapeutics (NASDAQ:CTNM) Upgraded to Strong-Buy by Baird R W

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

Other equities analysts also recently issued reports about the company. Royal Bank of Canada lifted their target price on Contineum Therapeutics from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Robert W. Baird assumed coverage on shares of Contineum Therapeutics in a research note on Tuesday. They set an “outperform” rating and a $32.00 target price on the stock. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $29.50.

Contineum Therapeutics Stock Performance

Shares of CTNM stock opened at $16.28 on Tuesday. The firm’s 50 day moving average price is $18.00 and its 200-day moving average price is $17.65. Contineum Therapeutics has a one year low of $13.27 and a one year high of $22.00.

Contineum Therapeutics (NASDAQ:CTNM) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.02). On average, research analysts forecast that Contineum Therapeutics will post -2.04 earnings per share for the current year.

Institutional Trading of Contineum Therapeutics

A number of large investors have recently made changes to their positions in the company. Sandia Investment Management LP purchased a new position in Contineum Therapeutics in the second quarter worth approximately $88,000. Rhumbline Advisers acquired a new stake in shares of Contineum Therapeutics in the 2nd quarter valued at $118,000. Bank of New York Mellon Corp purchased a new stake in shares of Contineum Therapeutics during the 2nd quarter worth $356,000. Driehaus Capital Management LLC acquired a new position in shares of Contineum Therapeutics during the second quarter worth $1,174,000. Finally, Squarepoint Ops LLC purchased a new position in Contineum Therapeutics in the second quarter valued at $2,642,000.

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).