Aardvark Therapeutics initiated with an Outperform at RBC Capital

RBC Capital analyst Brian Abrahams initiated coverage of Aardvark Therapeutics (AARD) with an Outperform rating and $21 price target Aardvark Therapeutics has a shot at establishing a key role for lead drug ARD-101 in the large-opportunity Prader-Willi Syndrome market, with the agent’s novel impact on hunger pathways also providing opportunities in orphan adjacencies and broader obesity indications, the analyst tells investors in a research note. The firm sees a net favorable catalyst setup at an attractive valuation.