Zealand Pharma downgraded to Market Perform from Outperform at William Blair

William Blair downgraded Zealand Pharma (ZLDPF) to Market Perform from Outperform without a price target The magnitude of weight loss disappointed in the Phase II ZUPREME-1 trial results, the analyst tells investors in a research note. The firm now believes real-world use-case for petrelintide will likely be “materially reduced given the hypercompetitive nature of the obesity market.” William Blair also removed Zealand from its Analyst Conviction List.