Analyst David Risinger from Leerink Partners reiterated a Buy rating on Centessa Pharmaceuticals and keeping the price target at $36.00.
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David Risinger’s rating is based on several compelling factors. Centessa Pharmaceuticals has shown promising progress with its lead drug candidate, ORX750, which is being developed as a best-in-class OX2R agonist for treating narcolepsy type 1 and 2, as well as idiopathic hypersomnia. The company’s management has expressed strong confidence in ORX750’s potential, supported by an innovative Phase 2a study that aims to optimize dosing and prepare for future registrational studies.
Additionally, Centessa is advancing another promising candidate, ORX142, which is currently in Phase 1 trials. Financially, the company is in a strong position with over $404 million in cash and investments, providing a cash runway into mid-2027. These factors, combined with the expected data releases later this year, underpin Risinger’s Buy rating on Centessa Pharmaceuticals.
In another report released on August 13, BMO Capital also maintained a Buy rating on the stock with a $35.00 price target.
Based on the recent corporate insider activity of 94 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CNTA in relation to earlier this year.