Contineum initiated with an Outperform at Baird

Baird initiated coverage of Contineum (CTNM) with an Outperform rating and $32 price target Contineum is an early clinical stage biotech company developing oral small molecule therapies for the treatment of neuroscience, inflammation and immunology indications, the analyst tells investors in a research note. The firm says three of the four indications the company is in development for are partially de-risked by clinical data from other agents. It says a “helpful catalyst” for shares in 2025 will be the completion of enrollment of the Phase 2 VISTA trial of PIPE-307.