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Investing.com - Truist Securities initiated coverage on Centessa Pharmaceuticals (NASDAQ:CNTA) with a Buy rating and a $30.00 price target on Monday. The $2.1 billion market cap company has shown impressive momentum, delivering a 66% return over the past year. According to InvestingPro data, analysts maintain a Strong Buy consensus with price targets ranging from $26 to $38.
The firm cited significant upside potential for the company’s Orexin-2 receptor agonist, ORX750, which targets narcolepsy and idiopathic hypersomnia (IH).
Truist noted that narcolepsy represents a market exceeding $2.5 billion that continues to grow as new treatments emerge, while the IH opportunity remains largely untapped.
The research firm believes OX2R agonists are positioned to become the new standard of care as they address the underlying disease biology of narcolepsy type 1 (NT1).
Despite being behind competitors, Truist suggests ORX750 could differentiate itself through safety, efficacy, and dosing convenience, potentially generating more than $2.5 billion at peak sales.
In other recent news, Centessa Pharmaceuticals has announced the appointment of Raphael Deferiere as the new Chief Accounting Officer, effective May 27, 2025. Deferiere, who brings extensive experience from his previous role at Ernst & Young, will now serve as the principal accounting officer of the company. Meanwhile, John Crowley will continue his role as Chief Financial Officer and principal financial officer. In addition, Deferiere’s compensation package includes an annual base salary of $400,000, eligibility for an annual bonus, and options to purchase up to 165,000 of the company’s American Depositary Shares. Separately, Piper Sandler has reaffirmed its Overweight rating on Centessa Pharmaceuticals, maintaining a $38.00 price target. This endorsement follows a discussion with a sleep medicine specialist about the potential of Centessa’s orexin 2 receptor agonist treatments for narcolepsy and idiopathic hypersomnia. Piper Sandler’s confidence is bolstered by anticipated key data readouts from the Phase 2 CRYSTAL-1 study in 2025. Centessa’s focus on these treatments positions it within a competitive landscape, with significant developments expected to influence its future performance.
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