Truist Initiates Coverage of Centessa with Buy Rating and $30 Price Target

Truist initiated coverage of Centessa (CNTA) with a Buy rating and $30 price target, citing "significant upside potential" for its orexin-2 receptor agonist, ORX750. The firm views ORX750 as poised to become the new standard-of-care in narcolepsy and idiopathic hypersomnia, despite being slightly behind competitors. The analyst believes the drug can differentiate on safety, efficacy, and dosing convenience.

Truist Securities has initiated coverage on Centessa Pharmaceuticals (NASDAQ: CNTA) with a Buy rating and a $30.00 price target, citing significant upside potential for the company's Orexin-2 receptor agonist, ORX750. The analyst firm views ORX750 as poised to become the new standard-of-care in narcolepsy and idiopathic hypersomnia (IH), despite being slightly behind competitors. The drug is expected to differentiate itself through safety, efficacy, and dosing convenience [1].

Centessa Pharmaceuticals has shown impressive momentum, delivering a 66% return over the past year, with a market capitalization of $2.1 billion. The firm noted that narcolepsy represents a market exceeding $2.5 billion that continues to grow as new treatments emerge, while the IH opportunity remains largely untapped. According to InvestingPro data, analysts maintain a Strong Buy consensus with price targets ranging from $26 to $38 [1].

In other recent news, Centessa Pharmaceuticals has announced the appointment of Raphael Deferiere as the new Chief Accounting Officer, effective May 27, 2025. Deferiere brings extensive experience from his previous role at Ernst & Young. Meanwhile, John Crowley will continue his role as Chief Financial Officer and principal financial officer. In addition, Deferiere's compensation package includes an annual base salary of $400,000, eligibility for an annual bonus, and options to purchase up to 165,000 of the company's American Depositary Shares [1].

Separately, Piper Sandler has reaffirmed its Overweight rating on Centessa Pharmaceuticals, maintaining a $38.00 price target. This endorsement follows a discussion with a sleep medicine specialist about the potential of Centessa’s orexin 2 receptor agonist treatments for narcolepsy and idiopathic hypersomnia. Piper Sandler’s confidence is bolstered by anticipated key data readouts from the Phase 2 CRYSTAL-1 study in 2025 [1].

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References
[1] https://www.investing.com/news/analyst-ratings/truist-securities-initiates-centessa-pharmaceuticals-stock-with-buy-rating-93CH-4143981