Metacrine downgraded by Jefferies with a new price target
$MTCR
Medicinal Chemicals and Botanical Products
Health Care
Jefferies downgraded Metacrine from Buy to Hold and set a new price target of $2.00 from $14.00 previously
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/22/2021 | $2.50 | Outperform → Sector Perform | RBC Capital Mkts |
| 10/22/2021 | $19.00 → $1.00 | Buy → Hold | Canaccord Genuity |
| 10/22/2021 | $14.00 → $2.00 | Buy → Hold | Jefferies |
| 10/22/2021 | Buy → Neutral | HC Wainwright & Co. |
LA JOLLA, Calif., Dec. 23, 2022 (GLOBE NEWSWIRE) -- Metacrine, Inc. (NASDAQ:MTCR) and Equillium, Inc. today announced the mutual termination of their previously announced definitive merger agreement. Metacrine is continuing to evaluate all strategic opportunities. Additional information regarding the termination of the definitive merger agreement is provided set forth in a Current Report on Form 8-K filed by Metacrine with the U.S. Securities and Exchange Commission today and is available at www.sec.gov and on Metacrine's website under the heading "Investors." About Metacrine Metacrine, Inc. is a clinical-stage biopharmaceutical company building a pipeline of differentiated therapies t
SAN DIEGO, Nov. 14, 2022 (GLOBE NEWSWIRE) -- Metacrine, Inc. (NASDAQ:MTCR), a clinical-stage biopharmaceutical company developing differentiated therapies for patients with gastrointestinal diseases, today reported its third-quarter 2022 financial results. "We made great progress during the quarter in advancing our proposed merger with Equillium," said Preston Klassen, M.D., MHS, president and chief executive officer of Metacrine. "We believe that Equillium has demonstrated compelling clinical data in Lupus Nephritis and has an exciting pipeline of clinical programs with multiple upcoming data catalysts and potential value inflection events. Equillium is led by an accomplished leadership
Expected to add $33 million in cash at closing to Equillium's balance sheet and extend operating runway into 2024 Acquisition includes novel drug candidate MET642, an orally delivered Phase 2 ready FXR agonist for ulcerative colitis Preston Klassen, M.D., MHS, to be appointed to the Board of Directors Equillium, Inc. (NASDAQ:EQ) and Metacrine Inc. (NASDAQ:MTCR), today announced that the two companies have entered into a definitive merger agreement pursuant to which Equillium will acquire Metacrine in an all-stock transaction. The transaction is anticipated to add $33 million in cash to Equillium's balance sheet at closing, which is expected to extend the company's cash runway into 2024.
RBC Capital Mkts downgraded Metacrine from Outperform to Sector Perform and set a new price target of $2.50
Canaccord Genuity downgraded Metacrine from Buy to Hold and set a new price target of $1.00 from $19.00 previously
Jefferies downgraded Metacrine from Buy to Hold and set a new price target of $2.00 from $14.00 previously