Analyst initiation and valuation
Wolfe Research has opened coverage on Centessa Pharmaceuticals (NASDAQ:CNTA) with an outperform rating and established a price objective of $40.00. At the time of the report the stock was trading at $26.65 and the company carried a market capitalization of $3.72 billion. Independent analyst targets for the company span from $30 to $62, reflecting a broad range of expectations across the sell-side.
ORX750 identified as lead asset
The note singles out Centessa's ORX750 program as a possible best-in-class therapy in the orexin-2 agonist class. Wolfe Research estimates ORX750 could deliver in excess of $3 billion in peak annual sales within the U.S. The firm also pointed to a competitive environment in which multiple orexin-2 agonists have demonstrated robust late-stage clinical results, and it positioned Centessa's asset as a contender within that cohort.
Upcoming data and potential share impact
Centessa expects to present additional Phase 2 results for higher dose cohorts in the first quarter of 2026. Wolfe Research expressed a constructive view on that upcoming dataset and projected that a favorable Phase 2 outcome could drive a 40% to 50% increase in the company's share price. The firm framed the impending readout as a material near-term catalyst for the equity.
Market positioning and recent performance
The stock has returned 63% over the past year, reflecting significant investor interest. At the same time, InvestingPro commentary flags CNTA as a highly volatile security. InvestingPro's Fair Value assessment suggests the stock may be trading above its intrinsic valuation at current levels, a point that introduces a valuation caveat to the bull case.
Broader clinical and trial developments
Separately, Centessa has shared preclinical data at the American College of Neuropsychopharmacology meeting indicating that its OX2R agonist could have effects on mood symptoms and wakefulness in major depressive disorder. The company is preparing to launch Phase 3 trials for ORX750 targeted at narcolepsy type 1, narcolepsy type 2, and idiopathic hypersomnia.
Sell-side view and peer commentary
Piper Sandler has reaffirmed an Overweight rating on Centessa and kept its price target at $38.00, noting the expectation that the upcoming trials will act as important catalysts. TD Cowen continues to carry a Buy rating, arguing the recent pullback could present a buying opportunity. TD Cowen also referenced early Phase 2a data that suggest potential dose-dependent efficacy for the ’750 program.
Leadership transition
Centessa announced a change in chief executive leadership: Mario Alberto Accardi, the founder of the company’s Orexin Program, will succeed Saurabh Saha as CEO effective January 1, 2026. Dr. Saha will move into an advisory capacity, and Dr. Accardi will join the company’s Board of Directors.
This article summarizes analyst coverage, clinical program timing, sell-side perspectives, and recent corporate developments for Centessa Pharmaceuticals, reflecting information provided by research firms, company announcements, and InvestingPro analytics.