William Blair analyst Myles Minter has reiterated their bullish stance on CTNM stock, giving a Buy rating on November 6.
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Myles Minter has given his Buy rating due to a combination of factors related to Contineum Therapeutics, Inc. Class A’s promising pipeline and strategic developments. Despite the recent setback in the Phase II VISTA trial for PIPE-307 in relapsing-remitting multiple sclerosis, which did not meet its primary or secondary efficacy endpoints, Minter remains optimistic about the company’s future prospects.
A significant portion of Contineum’s value is seen in the development of their LPAR1 antagonist, PIPE-791, for idiopathic pulmonary fibrosis (IPF). The mechanism of action for PIPE-791 is considered exciting due to its observed efficacy in improving forced vital capacity, setting it apart from existing treatments. The anticipated Phase II trial for PIPE-791, expected to start soon, along with pivotal Phase III data projected for 2026, are viewed as potential catalysts for the stock. Minter suggests that the current share weakness presents an opportunity for investors, particularly with the promising outlook for the PIPE-791 program.
According to TipRanks, Minter is a 5-star analyst with an average return of 22.7% and a 58.60% success rate. Minter covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals, Biogen, and Arcturus Therapeutics.
In another report released on November 6, JonesTrading also reiterated a Buy rating on the stock with a $25.00 price target.