Septerna (SEPN): Early Proof-of-Concept for SEP-631 in Mast Cell–Driven Disease Supports Long-Term Growth Potential

J.P. Morgan analyst Tessa Romero has maintained their bullish stance on SEPN stock, giving a Buy rating yesterday.

Tessa Romero’s rating is based on the strong early clinical profile of SEP-631, which showed a clean safety and tolerability signal in healthy volunteers with no serious adverse events or meaningful lab or ECG concerns. She also highlights the clear pharmacodynamic evidence that SEP-631 robustly suppressed MRGPRX2-mediated wheal formation across evaluated doses, establishing target engagement and early proof-of-concept in mast cell–driven disease biology.

In addition, Romero points to the drug’s convenient once-daily oral dosing, lack of relevant food effect, and a well-defined phase 2b program in moderate-to-severe chronic spontaneous urticaria as key value drivers. She further sees upside from management’s plans to expand SEP-631 and the broader platform into other mast cell and inflammatory indications, which could validate Septerna’s technology over time and support meaningful long-term growth for SEPN shares.

According to TipRanks, Romero is a 4-star analyst with an average return of 14.3% and a 49.57% success rate. Romero covers the Healthcare sector, focusing on stocks such as Cytokinetics, Agios Pharma, and Xenon.