Centessa Pharmaceuticals (CNTA) PT Raised to $28 at Guggenheim

Guggenheim analyst Debjit Chattopadhyay raised the price target on Centessa Pharmaceuticals (NASDAQ: CNTA) to $28.00 (from $24.00) while maintaining a Buy rating.

The analyst commented: "Mgmt pre-empted the Street with a compelling SAD / MAD update from ORX750. These data confirm the medicine’s BIC profile while addressing key unanswered questions on tolerability, dose response, and next steps. Mgmt outlined an aggressive Ph2a design spanning all three subsets of narcolepsy, and guided to data in 2025, potentially allowing for registration studies to commence during late-'25. These timelines substantially close the gap in NT1, and potentially leapfrog competition in NT2 and IH. Additionally, mgmt continues to iteratively expand / deepen the competitive moat by unveiling its third orexin agonist, with 0.035 nM binding affinity, targeting the white space in neuro-psych disorders, where total dose is crucial to prevent DDI in a polypharmacy setting. The growing safety database and linear dose response add to our conviction / POS and is reflected in our new $28 PT (up from $24 prior)."

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