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Centessa initiated with a Buy at Needham

Needham initiated coverage of Centessa (CNTA) with a Buy rating and $35 price target Centessa’s ORX750 has a potentially best-in-class clinical profile based on its preclinical and healthy volunteers data, broad therapeutic index, and flexible Phase 2a design, allowing it to leverage learnings from competitors to identify doses to take into pivotal trials, the analyst tells investors in a research note. Needham believes ORX750 has the potential to grow to over $1.8B by 2030 and more than $3B in 2035 due to its likely best-in-class clinical profile than can offer a single drug with multiple doses to tailor to patients across the three indications, and believes Centessa is in a strong position to tap into the potential for this class beyond the three initial indications.

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