Jones Trading has officially initiated coverage on shares of Septerna (NASDAQ:SEPN), assigning a “buy” rating and setting a price target of $43.00. This target indicates a potential upside of 45.91% from the stock’s previous close, according to a report issued to clients on Tuesday, October 10, 2023.
Other equities research analysts have also recently shared their insights on Septerna. On October 6, Raymond James Financial began coverage with a “strong-buy” rating and a price objective of $38.00. Following this, Wall Street Zen upgraded their rating from “buy” to “strong-buy” in a report released on October 7. Conversely, Weiss Ratings reaffirmed a “sell (D-)” rating on October 8. Additionally, HC Wainwright raised their price target from $26.00 to $30.00 while maintaining a “buy” rating in a report on November 11. Wells Fargo & Company also upgraded Septerna from “equal weight” to “overweight” and increased their target price from $18.00 to $28.00 on November 14.
Analyst Ratings and Consensus
Currently, one analyst has rated Septerna with a “strong buy,” five have assigned a “buy” rating, and one has given it a “sell” rating. According to data from MarketBeat.com, the stock holds a consensus rating of “moderate buy” with a consensus price target of $33.00.
Septerna experienced a slight decline of 0.4% recently. The company released its earnings results on November 10, revealing an earnings per share (EPS) of ($0.09), which fell short of the consensus estimate of $0.19 by ($0.28). The reported revenue for the quarter was $21.50 million, below analyst expectations of $24.50 million. The firm reported a negative net margin of 266.77% and a negative return on equity of 17.98%. Analysts predict that Septerna will post an EPS of (7.11) for the current year.
Insider Activity and Institutional Changes
In related news, Daniel D. Long, Senior Vice President, sold 3,501 shares of Septerna on November 10 for an average price of $18.06, totaling $63,228.06. Following this transaction, Long retains 92,911 shares, valued at approximately $1,677,972.66, which represents a 3.63% decrease in his position. This transaction was disclosed in a filing with the SEC, which is publicly accessible.
Institutional investors have also been active in adjusting their holdings in Septerna. BVF Inc. IL increased its stake by 79.3% during the first quarter, acquiring a total of 4,396,124 shares valued at $25,454,000. Meanwhile, Checkpoint Capital L.P. purchased a new position worth approximately $4,776,000. Other notable investments include ADAR1 Capital Management LLC and Perceptive Advisors LLC, which also bought new stakes in the company during the first and second quarters, respectively.
Founded on the principles of innovation and strategic development, Septerna is a clinical-stage biotechnology company that is pioneering the discovery of G protein-coupled receptor (GPCR) oral small molecule drugs. Utilizing its proprietary Native Complex Platform™, the company is focused on unlocking the potential of GPCR therapies to build a comprehensive pipeline targeting endocrinology, immunology and inflammation, and metabolic diseases.
With the ongoing developments in the biotechnology sector, the market will be closely watching Septerna’s performance and the implications of these new ratings on its stock trajectory.
