BMO Capital Markets Raises Centessa Pharmaceuticals (NASDAQ:CNTA) Price Target to $35.00

Centessa Pharmaceuticals (NASDAQ:CNTA) had its price objective lifted by BMO Capital Markets from $20.00 to $35.00 in a research report released on Monday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts also recently weighed in on CNTA. Morgan Stanley increased their price target on shares of Centessa Pharmaceuticals from $8.00 to $11.00 and gave the stock an equal weight rating in a research note on Friday, June 21st. Oppenheimer reissued an outperform rating and set a $14.00 price target on shares of Centessa Pharmaceuticals in a research report on Wednesday, August 14th. Jefferies Financial Group raised their price objective on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a buy rating in a report on Wednesday, September 11th. Finally, Guggenheim boosted their target price on Centessa Pharmaceuticals from $20.00 to $24.00 and gave the stock a buy rating in a report on Wednesday, September 11th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Centessa Pharmaceuticals currently has a consensus rating of Buy and an average target price of $25.17.

Centessa Pharmaceuticals Price Performance

NASDAQ:CNTA opened at $15.85 on Monday. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -11.16 and a beta of 1.44. Centessa Pharmaceuticals has a 12-month low of $5.15 and a 12-month high of $17.59. The company has a current ratio of 13.29, a quick ratio of 13.29 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average is $12.15 and its two-hundred day moving average is $10.60.

Centessa Pharmaceuticals (NASDAQ:CNTA) last announced its earnings results on Tuesday, August 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). Research analysts expect that Centessa Pharmaceuticals will post -1.61 EPS for the current year.

Insider Buying and Selling

In other news, CEO Saurabh Saha sold 175,000 shares of Centessa Pharmaceuticals stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $16.52, for a total transaction of $2,891,000.00. Following the sale, the chief executive officer now owns 776,924 shares in the company, valued at $12,834,784.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Gregory M. Weinhoff sold 12,198 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $12.17, for a total value of $148,449.66. Following the transaction, the insider now owns 241,171 shares in the company, valued at $2,935,051.07. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Saurabh Saha sold 175,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $16.52, for a total value of $2,891,000.00. Following the sale, the chief executive officer now owns 776,924 shares of the company’s stock, valued at approximately $12,834,784.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 216,873 shares of company stock valued at $3,472,000. Corporate insiders own 11.59% of the company’s stock.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in CNTA. Quarry LP acquired a new stake in Centessa Pharmaceuticals in the fourth quarter valued at $48,000. Sandia Investment Management LP acquired a new stake in shares of Centessa Pharmaceuticals in the 2nd quarter valued at about $90,000. Fred Alger Management LLC bought a new position in shares of Centessa Pharmaceuticals during the second quarter worth about $99,000. EntryPoint Capital LLC acquired a new position in Centessa Pharmaceuticals in the first quarter worth about $109,000. Finally, Trexquant Investment LP bought a new stake in Centessa Pharmaceuticals in the fourth quarter valued at about $114,000. 82.01% of the stock is currently owned by hedge funds and other institutional investors.

About Centessa Pharmaceuticals

Centessa Pharmaceuticals plc, a clinical-stage pharmaceutical company, discovers, develops, and delivers medicines to patients. Its pipeline products include SerpinPC, an activated protein C inhibitor, which is in Phase IIa clinical development for the treatment of hemophilia A and B; and ORX750, an orally administered OX2R agonist for the treatment of NT1 with potential expansion into other sleep disorders.