Wells Fargo analyst Derek Archila initiated coverage of Septerna (SEPN) with an Overweight rating and $43 price target The firm believes there is upside for the shares on SEP-786’s Phase 1 results, which it says “will be de-risking given the precedent datasets” for other parathyroid hormone programs. At this point, Wells views Septerna’s SEP-631 “as a free call option.” It likes the the company’s Native Complex platform approach and thinks SEP-786’s preclinical data should translate well to the clinic.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
