Contineum Therapeutics (NASDAQ:CTNM) Price Target Cut to $16.00 by Analysts at Robert W. Baird

Contineum Therapeutics (NASDAQ:CTNM) had its price objective dropped by equities researchers at Robert W. Baird from $32.00 to $16.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 136.34% from the company’s current price.

Separately, Royal Bank of Canada restated an “outperform” rating and set a $31.00 target price on shares of Contineum Therapeutics in a report on Thursday, January 9th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Contineum Therapeutics has a consensus rating of “Buy” and a consensus target price of $25.25.

Contineum Therapeutics Stock Up 5.1 %

Shares of CTNM opened at $6.77 on Friday. The firm has a market cap of $174.52 million and a PE ratio of -1.38. The company’s fifty day moving average is $10.12 and its two-hundred day moving average is $14.41. Contineum Therapeutics has a fifty-two week low of $5.92 and a fifty-two week high of $22.00.

Hedge Funds Weigh In On Contineum Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its holdings in Contineum Therapeutics by 130.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,447,550 shares of the company’s stock worth $27,706,000 after buying an additional 820,542 shares in the last quarter. FMR LLC lifted its holdings in Contineum Therapeutics by 115.4% in the 3rd quarter. FMR LLC now owns 696,927 shares of the company’s stock worth $13,339,000 after buying an additional 373,327 shares in the last quarter. Red Tree Management LLC acquired a new position in Contineum Therapeutics in the 4th quarter worth $9,349,000. Stempoint Capital LP acquired a new position in Contineum Therapeutics in the 4th quarter worth $3,894,000. Finally, Geode Capital Management LLC lifted its holdings in Contineum Therapeutics by 46.4% in the 4th quarter. Geode Capital Management LLC now owns 188,408 shares of the company’s stock worth $2,761,000 after buying an additional 59,732 shares in the last quarter.

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).