MTCR - Metacrine initiated buy at H.C. Wainwright citing novelty in therapeutic platform

Rasi Bhadramani/iStock via Getty Images H.C. Wainwright has initiated the coverage of Metacrine ([[MTCR]] +4.6%) with a buy rating. The firm has given a price target of $15.00 per share for the clinical-stage biopharma company to indicate a premium of ~262.3% to the last close. The analyst Ed Arce identifies the company’s leading oral agents MET409 and MET642 as “novel, next-generation farnesoid X receptor ((FXR)) agonists” with a potential for a better tolerability and treatment effect compared to legacy FXR agonists. Arce also cites the efforts made by the company to maintain the full potential of FXR agonists while reducing or minimizing the effects such as pruritus and adverse events such as hyperlipidemia and gallstones commonly seen with obeticholic acid ((OCA)), an FXR agonist from Intercept. Recently, the FDA restricted the use of OCA to patients having primary biliary cholangitis ((PBC)) with advanced cirrhosis of the liver.

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Metacrine initiated buy at H.C. Wainwright citing novelty in therapeutic platform