Septerna initiated with a Buy at Stifel

Stifel analyst Alex Thompson initiated coverage of Septerna (SEPN) with a Buy rating and $43 price target The firm is bullish on Septerna’s G protein-coupled receptors drug discovery platform. The company’s lead program SEP-479 offers a potentially first-in-class oral in the hypoparathyroidism market where there is “significantly more room to grow within the large rare disease,” the analyst tells investors in a research note. Stifel believes Septerna’s pipeline “represents a diversified play within two of the largest therapeutics verticals.”