Aardvark Therapeutics initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage of Aardvark Therapeutics (AARD) with an Overweight rating and $50 price target Aardvark is developing ARD-101, a gut-restricted drug in Phase 3 for Prader Willi Syndrome, a rare disease characterized by unrelenting hunger, the analyst tells investors in a research note. The firm says it was impressed by “compelling” patient anecdotes from the Phase 2 study in PWS patients, as well as the magnitude of hunger score reductions in just 28 days, and feedback from key opinion leaders.