Contineum Therapeutics, Inc. Class A (CTNM) has received a new Buy rating, initiated by Leerink Partners analyst, Faisal Khurshid.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Faisal Khurshid has given his Buy rating due to a combination of factors surrounding Contineum Therapeutics, Inc.’s strategic positioning in the idiopathic pulmonary fibrosis (IPF) market. The company is pursuing a fast-follower approach with its LPA1R antagonist, PIPE-791, which is anticipated to be best-in-class, building on the groundwork laid by BMY’s admilparant. This positioning is bolstered by the expectation that BMY’s ongoing Phase 3 trial will succeed, based on robust Phase 2 validation data.
Furthermore, while admilparant has shown modest but real efficacy, CTNM’s enhanced potency suggests that their program could achieve even greater efficacy. The potential for improved outcomes, coupled with the ability to differentiate on safety aspects such as hypotension risk, strengthens the case for CTNM. Khurshid’s analysis, supported by comprehensive data review and expert input, underpins the confidence in CTNM’s prospects, leading to the Buy rating.
In another report released on September 18, Morgan Stanley also maintained a Buy rating on the stock with a $21.00 price target.