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On Tuesday, Guggenheim initiated coverage on Metsera Inc (NASDAQ:MTSR), currently trading at $29.81 with a market capitalization of $3.15 billion, with a Buy rating and set a price target of $56.00. The research firm’s analysts highlighted the potential of Metsera’s innovative pipeline, particularly its ultra-long-acting NuSH analog, which could play a significant role in the obesity market. According to InvestingPro data, the stock’s RSI indicates overbought territory, suggesting investors might want to carefully time their entry points.
The analysts at Guggenheim expressed optimism about Metsera’s lead asset, GLP1RA MET-097i, which has demonstrated a 380-hour half-life and favorable results in a Phase 2a 12-week weight loss study. They also noted the drug’s improved tolerability profile, suggesting that it is well-positioned to capture market share in the treatment of obesity. While InvestingPro data shows the company is not yet profitable, with an EBITDA of -$96.87 million, its strong current ratio of 2.66 indicates solid financial stability to support its development programs.
Metsera’s pipeline extends beyond MET-097i, with Guggenheim pointing to the company’s ultra-long-acting amylin analog, MET-233i, as a key value driver. The analysts believe that if MET-097i maintains its tolerability with sequential monthly dosing and if the preliminary data for the 097i/233i combination shows promise in efficacy and tolerability, there could be a potential for nearly double the return in the next 18-24 months.
The research firm also mentioned Metsera’s emerging oral peptide pipeline and its MOMENTUM platform, which enhances bioavailability. They anticipate that initial Phase 1 data from the lead oral compound, expected in late 2025, could further de-risk the platform and contribute to the company’s growth prospects.
Guggenheim’s coverage of Metsera Inc comes with a strong vote of confidence in the company’s differentiated approach to addressing obesity through its long-acting hormone analogs and its innovative oral peptide solutions. The analysts’ price target reflects their belief in the company’s potential for significant returns based on the progress and development of its product pipeline. The stock has shown strong momentum with a 12.49% return over the past six months. Gain deeper insights into Metsera’s financial health and growth potential with InvestingPro, which offers additional exclusive tips and comprehensive financial analysis.
In other recent news, Metsera made a notable entrance into the Nasdaq Global Select Market with its initial public offering (IPO). The company offered its common stock to the public at $18.00 per share, but shares opened for trading at a higher price of $25.50. The IPO involved 15,277,778 shares, and several major financial firms, including BofA Securities and Goldman Sachs & Co. LLC, served as joint bookrunners for the offering. Metsera has also granted underwriters a 30-day option to purchase up to an additional 2,291,666 shares at the IPO price, excluding any underwriting discounts and commissions. These developments highlight the company’s recent financial activities and investor interest. The focus remains on the company’s innovative work in developing next-generation injectable and oral nutrient-stimulated hormone analog peptides.
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