Fractyl Health price target lowered to $8 from $9 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Fractyl Health (GUTS) to $8 from $9 and keeps a Buy rating on the shares after Fractyl announced midpoint randomized cohort results from the ongoing REMAIN-1 trial evaluating the Revita DMR procedure for weight loss after GLP-1 RA discontinuation. The change in the firm’s target is based primarily on adjustment of the fully diluted share count following the significant September fundraise and increasing the firm’s projected chance of success for Revita to 60% from 40% based on the positive REMAIN-1 midpoint cohort efficacy and safety results.