Wells Fargo starts coverage of Metsera with 'overweight' rating

Wells Fargo initiates coverage of drug developer Metsera MTSR.O with "overweight" rating

Brokerage says MTSR stands out in crowded obesity drug landscape with assets that promise monthly dosing and competitive efficacy

"Early data look promising and several readouts over next 12 months would shine light on these assets' competitive differentiation," - Wells Fargo

Earlier this month, Metsera said its experimental drug helped patients lose weight in a small, early-stage trial, showing potential for a monthly dosing regime

Brokerage sets PT at $65, a ~134.6% upside to stock's last close

As of last close, stock up ~53.9% from the $18 offer price in its January IPO