BofA analyst Tim Anderson raised the firm’s price target on Aardvark Therapeutics (AARD) to $26 from $22 and keeps a Buy rating on the shares after Soleno Therapeutics (SLNO), a competitor to Aardvark, received FDA approval for treating hyperphagia associated with Prader-Willi syndrome in patients 4 and older under the brand name Vykat XR. The firm views the competitor’s news “favorably” for Aardvark and as partially de-risking for ARD101.
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