H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Aardvark Therapeutics, Inc. today and set a price target of $40.00.
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Ram Selvaraju has given his Buy rating due to a combination of factors including the progress of Aardvark Therapeutics, Inc.’s pivotal HERO trial for ARD-101, which is aimed at treating hyperphagia in Prader-Willi syndrome. The trial has shown strong enrollment in the U.S. and has now expanded to Australia, with regulatory clearances also received in Canada and the UK. This international advancement is on track for a top-line data readout by the third quarter of 2026, aligning with previous guidance.
Additionally, the continued enrollment in the open-label extension phase by patients who completed the 12-week trial indicates positive patient engagement and suggests a favorable safety and tolerability profile for ARD-101. Furthermore, the recent acquisition of Metsera by Pfizer highlights the potential value in the obesity treatment market, underscoring the attractiveness of Aardvark’s pipeline, particularly given its current valuation, which Selvaraju views as significantly undervalued compared to its potential.
In another report released on December 2, BTIG also maintained a Buy rating on the stock with a $26.00 price target.