In a report released today, Ami Fadia from Needham maintained a Buy rating on Centessa Pharmaceuticals, with a price target of $35.00.
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Ami Fadia has given his Buy rating due to a combination of factors including the promising developments in Centessa Pharmaceuticals’ pipeline. The initiation of the Phase 1 study for their second OX2R agonist, ORX142, following the IND clearance, marks a significant step forward. This progress, coupled with the anticipated Phase 2a data for ORX750 in conditions like NT1, NT2, and IH expected this year, suggests a potential best-in-class profile that could enhance the company’s competitive positioning.
Ami Fadia also highlights the strategic flexibility offered by the adaptive design of the Phase 2a study, which allows for optimized dosing strategies. With upcoming detailed data presentations from competitors at the World Sleep conference, Centessa Pharmaceuticals is well-positioned for positive momentum. This outlook has led to the addition of CNTA to the Needham Conviction List, signaling strong confidence in the company’s future performance.
In another report released yesterday, Chardan Capital also reiterated a Buy rating on the stock with a $30.00 price target.