H.C. Wainwright raised the firm’s price target on Septerna (SEPN) to $40 from $35 and keeps a Buy rating on the shares after the company presented data from the Phase 1 trial of SEP-631 for the treatment of chronic spontaneous urticaria and other mast cell-driven diseases. The firm’s raised target reflects an increase in its view of the probability of approval for SEP-631 to 35% from the prior 30% given the positive Phase 1 data.
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Read More on SEPN:
- Septerna Advances SEP-631 After Positive Phase 1 Results
- Septerna announces results from Phase 1 trial of SEP-631
- Septerna: Advancing GPCR Pipeline and De-Risked Valuation Support Upgraded Buy Rating and $35 Target
- Septerna price target raised to $35 from $30 at H.C. Wainwright
- Septerna to Present GPCR Pipeline Updates at JPM Conference