Metsera initiated with an Outperform at Leerink

Leerink analyst David Risinger initiated coverage of Metsera (MTSR) with an Outperform rating and $77 price target The firm’s investment thesis is that the company’s platform and pipeline of novel obesity peptide-based therapeutics offer key advantages relative to competing assets. Leerink believes that Wall Street underappreciates the company’s monthly injectable GLP-1, monthly injectable amylin, daily oral GLP-1 peptide, and peptide manufacturing peptide scale advantages relative to competitors. Leerink would also highlight that the company is led by highly experienced executives with strong track records.