Leerink Partners analyst David Risinger has reiterated their bullish stance on CNTA stock, giving a Buy rating on April 9.
David Risinger has given his Buy rating due to a combination of factors surrounding Centessa Pharmaceuticals’ prospects in the narcolepsy treatment market. The positive trial results of ALKS 2680, a drug in the same class as Centessa’s ORX750, have shown promising outcomes in improving wakefulness for those suffering from narcolepsy type 2 and idiopathic hypersomnia. This is significant as these conditions are reportedly less responsive to the class of drugs to which ORX750 belongs. Risinger notes that the data from ALKS’ trial validates the drug class and, by extension, suggests a favorable view of CNTA’s preclinical candidate, ORX750.
Moreover, concerns regarding the side effects encountered at higher doses of ALKS 2680, such as visual disturbances, are not expected to be as pronounced with ORX750 due to its design to achieve a lower peak serum concentration. The potential for a more favorable safety profile positions ORX750 advantageously. Risinger’s optimism is further buoyed by the anticipation of Centessa’s near-term Investigational New Drug (IND) filing and the expected disclosure of Phase 1 proof-of-concept data for ORX750 by the end of the year. These upcoming milestones outline a clear development path that underpins the Buy recommendation for CNTA’s stock.
In another report released on April 9, BMO Capital also assigned a Buy rating to the stock with a $15.00 price target.
CNTA’s price has also changed dramatically for the past six months – from $6.250 to $11.150, which is a 78.40% increase.
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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.
