Stephens analyst Sudan Loganathan initiated coverage of Centessa (CNTA) with an Overweight rating and $35 price target The company’s lead asset ORX750 has demonstrated “significant” and dose-dependent improvements in mean sleep latency on the Maintenance of Wakefulness Test, the analyst tells investors in a research note. The firm believes the orexin agonist could have therapeutic benefits to narcolepsy and idiopathic hypersomnia patients.
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