Septerna initiated with a Buy at H.C. Wainwright

H.C. Wainwright initiated coverage of Septerna (SEPN) with a Buy rating and $26 price target Septerna is an early stage biotechnology company focused on designing and developing novel agents to target highly intractable targets within the G protein-coupled receptor superfamily, the analyst tells investors in a research note. The firm says Septerna trades at a discount to its most recently reported cash position and upfront cash from a recently-inked partnership, “representing a risk-mitigated opportunity with multiple shots on goal and catalysts constituting key value inflection points slated to accrue over the next six to 12 months.”