Centessa Pharmaceuticals (CNTA – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Jeffrey Hung from Morgan Stanley upgraded the rating on the stock to a Hold and gave it a $8.00 price target.
Jeffrey Hung’s Hold rating for Centessa Pharmaceuticals is due to a number of factors. Notably, Hung acknowledges the promising preclinical data of ORX750, Centessa’s orexin receptor 2 agonist. The data, presented at the World Sleep Congress, shows that ORX750 could have a best-in-class profile, given its potential in promoting wakefulness and suppressing cataplexy. This is further supported by its impressive selectivity over the human orexin receptor 1 and high potency.
However, Hung also takes into account that the data remains preliminary and human proof-of-concept data won’t be available until 2024. This means that more time is needed to make a comprehensive clinical comparison of the orexin receptor 2 agonists. Despite ORX750’s potential, Hung also notes that competing programs appear to be more advanced in their development. While the rating has been upgraded from Underweight to Equal-weight, the Hold rating reflects these considerations.
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Centessa Pharmaceuticals (CNTA) Company Description:
Centessa Pharmaceuticals PLC is a pharmaceutical company. Its portfolio consists of preclinical to phase 3 uncorrelated programs spanning diseases with high unmet need across oncology, hematology, immunology, inflammation, neuroscience, and rare diseases. Some of its products include Vasopressin V2 Receptor Inhibitor (Lixivaptan), BMP9 Engineered Variant (MGX292), OX2R Agonist (Oral) among others.
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