Oppenheimer assumed coverage of Centessa (CNTA) with an Outperform rating with a price target of $62, up from $40. Centessa is a top pick for the firm. Oppenheimer notes that the company’s pipeline includes best-in-class orexin agonists, with an expected commercialization in the first half of 2028 that can significantly expand the size of the current narcolepsy market via higher diagnosis/uptake/compliance/pricing compared to approved drugs. The firm thinks Centessa is significantly undervalued and expects upside potential during data readouts throughout 2026 and beyond.
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