Centessa Pharmaceuticals (CNTA – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Kostas Biliouris from BMO Capital maintained a Buy rating on the stock and has a $35.00 price target.
Kostas Biliouris has given his Buy rating due to a combination of factors that highlight the promising potential of Centessa Pharmaceuticals’ orexin agonist pipeline. The company’s lead candidate, ORX750, is currently in Phase II trials for narcolepsy and related disorders, with a high probability of success based on its best-in-class data from Phase I trials. This candidate’s sophisticated trial design allows for rapid progression to Phase III, which adds to its appeal.
Additionally, Centessa’s pipeline includes other orexin agonists like ORX142 and ORX489, which are advancing towards clinical trials and target a broader range of indications beyond narcolepsy. The potential market expansion, coupled with a strong cash position that supports further development, underpins the Buy rating. The company’s diversified approach and the high unmet need for treatments targeting excessive daytime sleepiness in neurological conditions further bolster the positive outlook.
CNTA’s price has also changed slightly for the past six months – from $15.520 to $16.630, which is a 7.15% increase.