Septerna initiated with an Overweight at JPMorgan

JPMorgan analyst Eric Joseph initiated coverage of Septerna (SEPN) with an Overweight rating and $38 price target Septerna represents a differentiated offering within broader biopharma, bringing predictive high-throughput screening and SAR optimization to the arena of G protein-coupled receptor targets, the analyst tells investors in a research note. The firm sees the company “executing a highly attractive pipeline strategy,” focused on validated targets in large established indications where an oral option offers a clear benefit to patients.