Robert W. Baird Issues Pessimistic Forecast for Contineum Therapeutics (NASDAQ:CTNM) Stock Price

Key Points

• Robert W. Baird lowered its price target for Contineum Therapeutics from $20 to $19 while maintaining an “outperform” rating, implying 28.21% upside from the stock’s $14.82 price.
• Analyst sentiment is mixed: the consensus rating is “Hold” with a $20 target, based on three Buy ratings, one Hold, and one Sell. RBC has a $23 target, while Weiss Ratings maintains a Sell rating.
• Contineum reported quarterly EPS of -$0.40, beating the -$0.45 estimate, but analysts expect a full-year loss of approximately $1.68 per share. Several institutional investors, including Janus Henderson and Baker BROS. Advisors, recently increased their holdings.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) had its price target lowered by analysts at Robert W. Baird from $20.00 to $19.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Robert W. Baird's price target indicates a potential upside of 28.21% from the company's current price.

Several other brokerages have also issued reports on CTNM. Royal Bank Of Canada lifted their price target on shares of Contineum Therapeutics from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Weiss Ratings restated a "sell (d-)" rating on shares of Contineum Therapeutics in a report on Friday, July 17th. Finally, Wall Street Zen raised Contineum Therapeutics from a "sell" rating to a "hold" rating in a research report on Sunday, August 23rd. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $20.00.

Contineum Therapeutics Price Performance

Shares of NASDAQ CTNM opened at $14.82 on Tuesday. Contineum Therapeutics has a twelve month low of $8.60 and a twelve month high of $17.78. The stock has a market cap of $557.53 million, a price-to-earnings ratio of -8.57 and a beta of 0.75. The company's fifty day moving average is $15.36 and its 200-day moving average is $14.05.

Contineum Therapeutics (NASDAQ:CTNM - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.05. On average, research analysts anticipate that Contineum Therapeutics will post -1.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Contineum Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC grew its holdings in shares of Contineum Therapeutics by 11.7% in the first quarter. Janus Henderson Group PLC now owns 2,734,836 shares of the company's stock valued at $35,594,000 after acquiring an additional 285,857 shares in the last quarter. Baker BROS. Advisors LP grew its stake in shares of Contineum Therapeutics by 1,729.3% during the 4th quarter. Baker BROS. Advisors LP now owns 1,420,838 shares of the company's stock worth $16,240,000 after acquiring an additional 1,343,168 shares during the period. Commodore Capital LP bought a new position in shares of Contineum Therapeutics during the 4th quarter worth $9,331,000. Wellington Management Group LLP increased its holdings in Contineum Therapeutics by 171.2% in the 2nd quarter. Wellington Management Group LLP now owns 150,797 shares of the company's stock worth $2,472,000 after acquiring an additional 95,188 shares during the last quarter. Finally, UBS Group AG increased its holdings in Contineum Therapeutics by 191.1% in the 4th quarter. UBS Group AG now owns 199,389 shares of the company's stock worth $2,279,000 after acquiring an additional 130,885 shares during the last quarter.

Contineum Therapeutics Company Profile

Contineum Therapeutics, formerly known as Pipeline Therapeutics, is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for diseases of the central nervous system. The company's research is aimed at promoting remyelination and neurorepair, processes that may restore damaged nerve function rather than solely managing disease symptoms.

Contineum's lead programs include PIPE-307, an oral, brain-penetrant therapy designed to promote remyelination through selective inhibition of the M1 muscarinic receptor, and PIPE-791, an oral antagonist of the lysophosphatidic acid receptor 1.

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