Metsera initiated with a Buy at BofA

BofA initiated coverage of Metsera (MTSR) with a Buy rating and $38 price target implying over 20% share upside. Metsera is a clinical-stage biotech breaking into the obesity market, the analyst tells investors in a research note. The firm says the company has both an oral and injectable platform, three assets in human studies, and many more preclinically in different drug classes. BofA believes Metsera’s combination of offerings is unique among its obesity small cap peers. This could make the company attractive to large biopharmaceutical companies seeking a turn-key solution to enter the obesity category, the firm contends.