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

Baird R W upgraded shares of Contineum Therapeutics (NASDAQ:CTNM - Free Report) to a strong-buy rating in a report released on Tuesday, Zacks.com reports.

Several other equities research analysts also recently weighed in on the company. Robert W. Baird assumed coverage on Contineum Therapeutics in a report on Tuesday. They issued an "outperform" rating and a $32.00 price target for the company. Royal Bank of Canada raised their price target on Contineum Therapeutics from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Wednesday, August 14th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Contineum Therapeutics has a consensus rating of "Buy" and a consensus price target of $29.50.

Contineum Therapeutics Price Performance

CTNM stock traded up $0.15 during trading on Tuesday, reaching $16.43. 13,294 shares of the company traded hands, compared to its average volume of 78,900. Contineum Therapeutics has a 12 month low of $13.27 and a 12 month high of $22.00. The business has a 50 day simple moving average of $18.00 and a 200 day simple moving average of $17.65.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.39) earnings per share for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.02). Research analysts predict that Contineum Therapeutics will post -2.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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).