Aeglea downgraded at Wells Fargo after ADAs seen in pegtarviliase study

As previously reported, Wells Fargo analyst Yanan Zhu downgraded Aeglea BioTherapeutics to Equal Weight from Overweight with a price target of 35c, down from $2, after the company reported phase 1/2 homocystinuria, or HCU, study results and said it does not believe the data support immediate discussions with regulators on pivotal trial design. Though there could be further optimization to address pegtaviliase anti-drug antibodies, or ADAs, the firm sees limitation in the company’s cash position for further development, the analyst stated.