Contineum Therapeutics (NASDAQ:CTNM) Upgraded at Baird R W

Baird R W upgraded shares of Contineum Therapeutics (NASDAQ:CTNM) to a strong-buy rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

A number of other analysts have also issued reports on the company. Royal Bank of Canada lifted their price target on Contineum Therapeutics from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Robert W. Baird started coverage on shares of Contineum Therapeutics in a research report on Tuesday. They issued an “outperform” rating and a $32.00 target price on the stock. Four research 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.com, the company presently has an average rating of “Buy” and an average price target of $29.50.

Contineum Therapeutics Trading Up 0.1 %

NASDAQ CTNM opened at $16.27 on Tuesday. The company has a 50 day moving average price of $17.94 and a 200 day moving average price of $17.63. Contineum Therapeutics has a 52 week low of $13.27 and a 52 week high of $22.00.

Contineum Therapeutics (NASDAQ:CTNM) last issued its 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). As a group, equities analysts forecast that Contineum Therapeutics will post -2.04 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp acquired a new stake in shares of Contineum Therapeutics in the 2nd quarter valued at $356,000. Rhumbline Advisers acquired a new stake in Contineum Therapeutics during the 2nd quarter worth $118,000. Versant Venture Management LLC purchased a new position in shares of Contineum Therapeutics during the second quarter worth about $16,169,000. Johnson & Johnson purchased a new stake in shares of Contineum Therapeutics during the second quarter worth approximately $34,853,000. Finally, Sandia Investment Management LP purchased a new stake in shares of Contineum Therapeutics in the second quarter valued at about $88,000.

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).