In a report released yesterday, Kelly Shi from Jefferies maintained a Buy rating on Centessa Pharmaceuticals (CNTA – Research Report), with a price target of $27.00.
Kelly Shi has given his Buy rating due to a combination of factors that highlight the potential of Centessa Pharmaceuticals in addressing unmet needs in the narcolepsy market. The report emphasizes the promising nature of OX2R agonists, which are seen as a significant advancement in treating narcolepsy, particularly for conditions like NT2 and IH where current treatments fall short. The analyst notes that while the data is still immature, the focus on measures like the Multiple Sleep Latency Test (MWT) for efficacy and safety is crucial, suggesting these could be key differentiators in the market.
Furthermore, the report highlights the potential for orexins to gain substantial market uptake, with an initial estimate of 20-30% that could increase with real-world experience. The potential for these treatments to expand into additional indications such as sleep apnea further strengthens the case for Centessa Pharmaceuticals. The analyst also points out that a significant portion of patients exhaust existing treatment options, indicating a strong market opportunity for new, effective therapies like those being developed by Centessa.
According to TipRanks, Shi is an analyst with an average return of -5.2% and a 37.04% success rate. Shi covers the Healthcare sector, focusing on stocks such as Incyte, Legend Biotech, and Summit Therapeutics.
In another report released on March 14, Leerink Partners also maintained a Buy rating on the stock with a $36.00 price target.