William Blair analyst Myles Minter has reiterated their bullish stance on CTNM stock, giving a Buy rating on October 14.
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Myles Minter has given his Buy rating due to a combination of factors that highlight the potential for Contineum Therapeutics, Inc. to achieve significant advancements in its clinical pipeline. The company is poised to initiate a Phase II trial for its LPAR1 antagonist, PIPE-791, in idiopathic pulmonary fibrosis (IPF), which could confirm its best-in-class profile. The additional safety data and competitive pharmacokinetic profile obtained from previous studies differentiate PIPE-791 from existing treatments, offering a promising outlook.
Minter also emphasizes the importance of the upcoming VISTA trial results for PIPE-307, which could establish proof of concept for demyelinating therapy in relapsing-remitting multiple sclerosis (RRMS). Success in this area could lead to a blockbuster RMS therapy and attract strategic interest from partners like Johnson & Johnson. The development of Contineum’s assets across multiple indications provides several opportunities for success, with the potential for differentiated safety profiles capturing untapped opportunities in large indications. The current valuation suggests a favorable risk/reward ratio, supporting the Buy rating.
In another report released on October 14, RBC Capital also maintained a Buy rating on the stock with a $25.00 price target.