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Investing.com - Truist Securities has reiterated its Buy rating and $30.00 price target on Centessa Pharmaceuticals (NASDAQ:CNTA), currently valued at $2.4 billion, ahead of upcoming Phase 2 narcolepsy data for the company’s ORX750 treatment. According to InvestingPro data, analysts maintain a Strong Buy consensus with price targets ranging from $27 to $38.
The research firm expects Phase 2a data for ORX750 to be released before year-end, representing a significant catalyst for the stock.
Truist believes investors are looking for a "best-in-class profile" from ORX750, with competitor data presentations at World Sleep conference (September 5-10) expected to set performance benchmarks for Centessa’s treatment.
The firm anticipates ORX750 will likely demonstrate "best-in-class properties" in the upcoming Phase 2a results.
Truist sees potential upside of approximately 30% to over 100% from current levels, depending on how differentiated ORX750 proves to be compared to competing treatments.
In other recent news, Centessa Pharmaceuticals has been the focus of analyst attention and executive changes. Truist Securities has initiated coverage on Centessa Pharmaceuticals with a Buy rating and a price target of $30.00, highlighting the potential of the company’s Orexin-2 receptor agonist, ORX750, for treating narcolepsy and idiopathic hypersomnia. Piper Sandler also maintains its Overweight rating on the stock, with a price target of $38.00, expressing continued interest in the company’s developments in sleep disorder treatments. The firm hosted a discussion with a sleep medicine specialist to explore the potential of ORX750, with key data from the Phase 2 CRYSTAL-1 study expected in 2025.
Additionally, Centessa Pharmaceuticals has announced the appointment of Raphael Deferiere as the new Chief Accounting Officer, effective May 27, 2025. Deferiere, a seasoned professional with experience at Ernst & Young, will serve as the principal accounting officer. These developments, including analyst ratings and executive appointments, reflect the ongoing interest and activity surrounding Centessa Pharmaceuticals.
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