Leerink analyst David Risinger raised the firm’s price target on Centessa to $22 from $14 and keeps an Outperform rating on the shares. The firm is positive on the company’s “compelling” ORX750 – orexin OX2R agonist – interim Phase 1 proof-of-concept data in sleep-deprived healthy volunteers, stating that based upon the initial data cut, ORX750 could have a potentially best-in-class profile relative to competing orexin programs, the analyst tells investors in a research note. Leering adds that it has also increased its probability of ORX750 success from 20% to 60%.
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