Wells Fargo & Company Forecasts Strong Price Appreciation for Septerna (NASDAQ:SEPN) Stock

Key Points

• Wells Fargo raised its Septerna price target from $50 to $61 and maintained an “overweight” rating, implying 30.69% upside from the prior close.
• Analyst sentiment is generally positive: Septerna has a “Moderate Buy” consensus rating and an average price target of $53.67, though one analyst rates it a sell.
• Septerna beat quarterly estimates, reporting a loss of $0.29 per share versus the expected $0.43 loss, and revenue of $26.75 million versus $19.22 million expected.

Septerna (NASDAQ:SEPN - Get Free Report) had its price target lifted by equities research analysts at Wells Fargo & Company from $50.00 to $61.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 30.69% from the stock's previous close.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Septerna in a research report on Thursday, October 15th. Guggenheim boosted their price target on shares of Septerna from $45.00 to $51.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. upped their price objective on shares of Septerna from $38.00 to $48.00 and gave the company an "overweight" rating in a research note on Wednesday, August 19th. Stifel Nicolaus set a $49.00 price objective on shares of Septerna in a report on Tuesday, August 11th. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $49.00 target price on shares of Septerna in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $53.67.

Septerna Stock Performance

Shares of SEPN traded up $2.97 during trading hours on Wednesday, hitting $46.67. 75,924 shares of the stock were exchanged, compared to its average volume of 360,455. The stock's 50-day moving average price is $39.08 and its two-hundred day moving average price is $32.27. Septerna has a 12-month low of $17.55 and a 12-month high of $51.10. The company has a market cap of $2.18 billion, a price-to-earnings ratio of -86.42 and a beta of 2.20.

Septerna (NASDAQ:SEPN - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.29) earnings per share for the quarter, beating analysts' consensus estimates of ($0.43) by $0.14. Septerna had a negative return on equity of 9.57% and a negative net margin of 24.51%. The company had revenue of $26.75 million for the quarter, compared to analyst estimates of $19.22 million. On average, research analysts expect that Septerna will post -1.41 earnings per share for the current year.

Insider Buying and Selling at Septerna

In other news, COO Elizabeth Bhatt sold 4,000 shares of Septerna stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $37.41, for a total transaction of $149,640.00. Following the transaction, the chief operating officer owned 174,209 shares in the company, valued at $6,517,158.69. The trade was a 2.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Daniel D. Long sold 3,333 shares of the business's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $37.83, for a total transaction of $126,087.39. Following the transaction, the senior vice president directly owned 96,412 shares in the company, valued at approximately $3,647,265.96. The trade was a 3.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 32,333 shares of company stock valued at $1,375,727. 5.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Septerna

Hedge funds and other institutional investors have recently bought and sold shares of the company. Covestor Ltd grew its stake in shares of Septerna by 19.0% in the 3rd quarter. Covestor Ltd now owns 2,526 shares of the company's stock valued at $98,000 after buying an additional 403 shares during the period. Sterling Capital Management LLC increased its holdings in shares of Septerna by 215.0% during the 3rd quarter. Sterling Capital Management LLC now owns 630 shares of the company's stock worth $25,000 after buying an additional 430 shares during the last quarter. Engineers Gate Manager LP increased its holdings in shares of Septerna by 5.0% during the 2nd quarter. Engineers Gate Manager LP now owns 17,350 shares of the company's stock worth $581,000 after buying an additional 822 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Septerna by 12.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,117 shares of the company's stock valued at $474,000 after buying an additional 1,343 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Septerna during the 3rd quarter valued at approximately $93,000.

Septerna Company Profile

Septerna, Inc is a clinical-stage biotechnology company focused on discovering and developing oral small-molecule medicines that target G protein-coupled receptors (GPCRs). GPCRs are a large class of cell-surface proteins involved in a wide range of biological processes and represent an important source of potential drug targets.

The company's research is powered by its Native State platform, which is designed to study GPCRs in their natural biological configuration and support the discovery of selective small-molecule compounds.

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