B. Riley raised the firm’s price target on Centessa (CNTA) to $42 from $33 and keeps a Buy rating on the shares. The firm believes the Phase 2 CRYSTAL-1 data positions ORX750 as “significantly de-risked for potential first-in-class status” in narcolepsy type 2 and idiopathic hypersomnia. ORX750 achieved over 20 minutes placebo-adjusted Maintenance of Wakefulness Test improvement, matching TAK-861 and Alkermes’ (ALKS) alixorexton at 5-15 times lower doses, the analyst tells investors in a research note.
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