Wells Fargo analyst Cerena Chen downgraded Metsera (MTSR) to Equal Weight from Overweight with a price target of $54, down from $65, after Pfizer (PFE) announced an agreement to acquire Metsera for $4.9B upfront and total potential deal value of about $7.3B contingent on hitting various pipeline-related targets. The firm adds that here’s little likelihood of other bidders coming in at this time as other players have likely already looked at the company.
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