Truist analyst Srikripa Devarakonda raised the firm's price target on Septerna to $43 from $35 and keeps a Buy rating on the shares. Investor focus is shifting toward the hypoparathyroidism program ahead of a Phase 1 HV readout expected in late 2026 to early 2027, with increased probability of success assigned to HP based on TAM and early data, while the MRGPRX2 program is now ascribed no value pending further clarity after a competitor miss in CSU, and an additional $250M peak platform value has been added to reflect broader pipeline optionality, the analyst tells investors in a research note.
