B. Riley analyst William Wood initiated coverage of Aardvark Therapeutics (AARD) with a Buy rating and $32 price target The company is developing ARD-101, an orally administered, gut-restricted, bitter taste receptor agonist that modulates the gut-brain hunger axis by stimulating the release of multiple gut hormones, which signal the brain to suppress hunger, the analyst tells investors in a research note. The firm says the drug has demonstrated “robust” clinical activity in a Phase 2a trial in Prader-Willi syndrome patients.
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