Centessa assumed with an Overweight at Morgan Stanley

Morgan Stanley assumed coverage of Centessa (CNTA) with an Overweight rating and $27 price target The market potential for orexin 2 agonists, including ORX750, is “likely under-appreciated,” says the analyst, who models greater than $5B in unadjusted revenues for ORX750 across hypersomnias, which is “meaningfully above” consensus estimates of about $3B.