Stifel initiated coverage of Contineum with a Buy rating and $29 price target. Contineum is a small molecul focused biotech company with “multiple credible shots-on-goal,” the most compelling of which is PIPE-791, its LPA1R antagonist under development in idiopathic pulmonary fibrosis, the analyst tells investors in a research note. The firm believes the LPA1R mechanism “is almost fully derisked.”