Stifel Nicolaus analyst Paul Matteis has maintained their bullish stance on CTNM stock, giving a Buy rating yesterday.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Paul Matteis has given his Buy rating due to a combination of factors related to Contineum Therapeutics, Inc. Class A’s current and future prospects. Despite the recent setback in the phase 2 VISTA trial for PIPE-307, which did not achieve its primary or secondary endpoints, the safety and tolerability of the drug were deemed acceptable. This trial’s outcome was not unexpected, as the analyst’s model had already been conservative regarding this particular drug’s potential in treating RRMS.
However, the Buy rating is primarily based on the promising development of PIPE-791, an LPA1R antagonist, for idiopathic pulmonary fibrosis (IPF). Contineum Therapeutics has shown positive phase 1b PET data in healthy volunteers, and there is confidence in advancing to phase 2 trials. The potential for PIPE-791 to achieve a best-in-class profile is a significant factor in the positive outlook. Additionally, the anticipated phase 3 results for a competitor’s drug in IPF could further validate the therapeutic class, benefiting Contineum’s stock performance.
In another report released yesterday, RBC Capital also maintained a Buy rating on the stock with a $22.00 price target.
CTNM’s price has also changed dramatically for the past six months – from $3.830 to $12.220, which is a 219.06% increase.