UPDATE: H.C. Wainwright Starts Metacrine Inc. (MTCR) at Buy

June 14, 2021 6:07 AM EDT
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Price: $2.98 +5.67%

Rating Summary:
    4 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 14 | New: 23
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(Updated - June 14, 2021 6:07 AM EDT)

H.C. Wainwright analyst Ed Arce initiates coverage on Metacrine Inc. (NASDAQ: MTCR) with a Buy rating and a price target of $15.00.

The analyst comments "Metacrine, founded in 2014 with an IPO on September 16, 2020, is a clinical-stage biopharmaceutical company focused on discovering and developing differentiated therapies, initially for patients with nonalcoholic steatohepatitis (NASH) and inflammatory bowel disease (IBD). Based on its extensive expertise in the chemistry and biology of the farnesoid X receptor (FXR), lead oral compounds MET409 and MET642 represent novel, next-generation FXR agonists based on a unique chemical scaffold (non-bile acid, non-steroidal) with the potential for improved tolerability and treatment effect versus legacy FXR agonists. Metacrine's development goal is to preserve the full therapeutic potential of FXR (the most well-validated class in NASH), while minimizing or eliminating tolerability issues such as pruritus and AEs such as hyperlipidemia and gallstones, as seen with Intercept's (ICPT; Neutral) obeticholic acid (OCA). To achieve this goal, the company seeks to broaden the therapeutic index of its compounds via: (1) nanomolar potency (which allows for lower dose); and (2) sustained exposure and continuous target engagement."

For an analyst ratings summary and ratings history on Metacrine Inc. click here. For more ratings news on Metacrine Inc. click here.

Shares of Metacrine Inc. closed at $4.14 yesterday.

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