Analyst Debanjana Chatterjee from JonesTrading reiterated a Buy rating on Contineum Therapeutics, Inc. Class A (CTNM – Research Report) and keeping the price target at $23.00.
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Debanjana Chatterjee’s rating is based on several promising developments at Contineum Therapeutics, Inc. The company is advancing its potentially leading asset for idiopathic pulmonary fibrosis (IPF) into Phase 2 trials, which suggests a significant undervaluation of the stock. The upcoming clinical updates, particularly in the area of nontuberculous mycobacterial (NTM) infections, present a favorable risk-reward scenario for investors.
Furthermore, the completion of chronic toxicity studies supports the planned Phase 2 trials for both IPF and progressive multiple sclerosis (PrMS), with data from a Phase 1b PET trial expected soon. The company’s approach to receptor occupancy aims to maximize efficacy, and the anticipated data from various trials, including those for chronic pain and major depressive disorder, could further validate their drug development strategy. These factors collectively contribute to the Buy rating and the price target of $23.
Chatterjee covers the Healthcare sector, focusing on stocks such as KalVista Pharmaceuticals, Clearside Biomedical, and Trevi Therapeutics. According to TipRanks, Chatterjee has an average return of -1.9% and a 28.85% success rate on recommended stocks.
In another report released yesterday, RBC Capital also maintained a Buy rating on the stock with a $31.00 price target.