Centessa Pharmaceuticals (NASDAQ:CNTA) Price Target Raised to $62.00 at Oppenheimer

Centessa Pharmaceuticals (NASDAQ:CNTA) had its target price raised by Oppenheimer from $40.00 to $62.00 in a report issued on Wednesday morning, Marketbeat.com reports. The brokerage currently has an outperform rating on the stock.

CNTA has been the topic of a number of other reports. Wells Fargo & Company boosted their price objective on Centessa Pharmaceuticals from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. Wall Street Zen upgraded shares of Centessa Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, October 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Centessa Pharmaceuticals in a research note on Wednesday, October 8th. Lifesci Capital raised shares of Centessa Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, September 3rd. Finally, Truist Financial set a $30.00 target price on shares of Centessa Pharmaceuticals in a research note on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $37.70.

Centessa Pharmaceuticals Stock Up 3.4%

Shares of CNTA opened at $29.57 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 10.57 and a current ratio of 10.56. The company has a 50-day simple moving average of $25.42 and a 200-day simple moving average of $19.54. Centessa Pharmaceuticals has a 52 week low of $9.60 and a 52 week high of $30.58. The firm has a market capitalization of $3.97 billion, a P/E ratio of -16.16 and a beta of 1.55.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its earnings results on Wednesday, November 5th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). On average, equities research analysts expect that Centessa Pharmaceuticals will post -1.6 earnings per share for the current year.

Insiders Place Their Bets

In other Centessa Pharmaceuticals news, General Counsel Iqbal J. Hussain sold 6,000 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $22.41, for a total value of $134,460.00. Following the transaction, the general counsel directly owned 105,386 shares in the company, valued at approximately $2,361,700.26. This trade represents a 5.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Tia L. Bush sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $26.00, for a total transaction of $1,040,000.00. Following the completion of the sale, the chief technology officer directly owned 121,503 shares of the company’s stock, valued at $3,159,078. The trade was a 24.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 113,172 shares of company stock valued at $2,820,441. 7.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Avoro Capital Advisors LLC raised its holdings in shares of Centessa Pharmaceuticals by 116.2% during the third quarter. Avoro Capital Advisors LLC now owns 10,808,080 shares of the company’s stock worth $262,096,000 after acquiring an additional 5,808,080 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in shares of Centessa Pharmaceuticals by 20.8% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 8,403,000 shares of the company’s stock valued at $110,415,000 after purchasing an additional 1,449,000 shares during the period. Commodore Capital LP lifted its holdings in shares of Centessa Pharmaceuticals by 39.3% in the second quarter. Commodore Capital LP now owns 3,298,289 shares of the company’s stock valued at $43,340,000 after purchasing an additional 930,711 shares in the last quarter. TCG Crossover Management LLC boosted its position in shares of Centessa Pharmaceuticals by 8.5% during the third quarter. TCG Crossover Management LLC now owns 3,136,480 shares of the company’s stock worth $76,060,000 after buying an additional 245,664 shares during the period. Finally, Franklin Resources Inc. raised its position in Centessa Pharmaceuticals by 0.6% in the 3rd quarter. Franklin Resources Inc. now owns 2,558,414 shares of the company’s stock valued at $62,042,000 after buying an additional 14,875 shares during the last quarter. Institutional investors and hedge funds own 82.01% of the company’s stock.

Centessa Pharmaceuticals Company Profile

Centessa Pharmaceuticals plc, a clinical-stage pharmaceutical company, discovers, develops, and delivers medicines for patients. Its products pipeline includes SerpinPC, an activated protein C inhibitor for the treatment of hemophilia A and B; and ORX750, an orally administered OX2R agonist for the treatment of narcolepsy and other sleep disorders.