BioAge Labs downgraded to Hold from Buy at Jefferies

Jefferies downgraded BioAge Labs (BIOA) to Hold from Buy with a price target of $7, down from $42. The company discontinued the Phase 2 obesity study of azelaprag which is a surprise as liver signal was never a concern across eight Phase 1 studies done by company and Amgen, the analyst tells investors in a research note. Jefferies expects to see a signiccantly stock drop after BioAge Labs announced the discontinuation of STRIDES Phase 2 study.