Centessa initiated with a Buy at TD Cowen

TD Cowen initiated coverage of Centessa (CNTA) with a Buy rating and no price target The firm says the company’s ORX750 has a “best in class profile as a transformative therapy” in excessive daytime sleepiness. Key opinion leaders highlight the significant unmet need that should support multiple competitive entrants and given ORX750’s potency and safety, TD expects clinical differentiation and commercial success in narcolepsy and other hypersomnia indications, the analyst tells investors in a research note.