Aardvark Therapeutics, Inc. (AARD)
NASDAQ:AARD
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Aardvark Therapeutics, Inc.
(NASDAQ:AARD)
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Rating:48Neutral
Price Target:
$6.50
▲(24.28% Upside)
Action:Reiterated
Date:05/15/26
The score is weighed down most by weak financial performance (no revenue, accelerating losses and cash burn) and negative clinical/regulatory corporate events (FDA clinical hold on the lead program). Technicals provide some near-term support, but valuation remains unattractive due to lack of profitability and no dividend.
Positive Factors
Low leverage and positive equity
Very low leverage and meaningful positive equity reduce insolvency and interest-rate risk, giving structural flexibility to fund R&D. With minimal debt and sizable equity on the books, the company can prioritize clinical investment over debt servicing, supporting durable execution capacity.
Negative Factors
Pre-revenue with widening losses
Being pre-revenue with rapidly expanding operating losses creates a structural dependence on external funding. Persistent negative EBIT and net loss signal ongoing burn from R&D and operations, raising long-term financing and execution risk absent a clear path to commercialization.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage and positive equity
Very low leverage and meaningful positive equity reduce insolvency and interest-rate risk, giving structural flexibility to fund R&D. With minimal debt and sizable equity on the books, the company can prioritize clinical investment over debt servicing, supporting durable execution capacity.
Read all positive factors
Aardvark Therapeutics, Inc. (AARD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$133.30M
Dividend YieldN/A
Average Volume (3M)166.37K
Price to Earnings (P/E)―
Beta (1Y)2.28
Revenue GrowthN/A
EPS Growth-1.62%
CountryUS
Employees22
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-3.21
Shares Outstanding21,816,385
10 Day Avg. Volume148,283
30 Day Avg. Volume166,372
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)2.69
Price to Sales (P/S)0.00
P/FCF Ratio-5.28
Enterprise Value/Market Cap0.42
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-1.83K
Enterprise Value/Ebitda-0.77
Forecast
1Y Price Target
$15.00Price Target Upside186.81% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)-3.58
Revenue Forecast (FY)N/A
Aardvark Therapeutics, Inc. Business Overview & Revenue Model
Company Description
Aardvark Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on developing small-molecule therapeutics to activate innate homeostatic pathways for the treatment of metabolic diseases. Its lead product candidate is the ARD-101, ...
How the Company Makes Money
null...
Aardvark Therapeutics, Inc. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -31.00K | -36.00K | 0.00 | 0.00 | 0.00 |
| EBITDA | -73.30M | -62.73M | -22.65M | -6.65M | -9.76M |
| Net Income | -69.87M | -57.59M | -20.59M | -7.21M | -13.56M |
Balance Sheet | |||||
| Total Assets | 98.59M | 117.18M | 77.51M | 10.54M | 16.76M |
| Cash, Cash Equivalents and Short-Term Investments | 91.20M | 110.03M | 73.66M | 9.99M | 16.11M |
| Total Debt | 336.00K | 441.00K | 779.00K | 162.00K | 262.00K |
| Total Liabilities | 11.60M | 10.55M | 132.15M | 45.34M | 44.68M |
| Stockholders Equity | 86.99M | 106.63M | -54.64M | -34.80M | -27.92M |
Cash Flow | |||||
| Free Cash Flow | -61.75M | -54.27M | -18.20M | -5.82M | -10.54M |
| Operating Cash Flow | -61.65M | -54.17M | -18.09M | -5.82M | -10.54M |
| Investing Cash Flow | 97.21M | -49.67M | -12.00M | 0.00 | -1.00M |
| Financing Cash Flow | 378.00K | 89.25M | 81.99M | 0.00 | 225.00K |
Aardvark Therapeutics, Inc. Risk Analysis
Aardvark Therapeutics, Inc. disclosed 89 risk factors in its most recent earnings report. Aardvark Therapeutics, Inc. reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Aardvark Therapeutics, Inc. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
56 Neutral | $268.20M | -6.54 | -20.31% | ― | 8.21% | 21.41% | |
52 Neutral | $869.54M | -8.74 | -57.29% | ― | ― | -16.30% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $2.28B | -12.66 | 31.23% | ― | ― | ― | |
48 Neutral | $133.30M | -0.95 | -61.71% | ― | ― | -1.62% | |
47 Neutral | $884.04M | -6.09 | -101.19% | ― | ― | -3.74% |
* Healthcare Sector Average
AARD
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Aardvark Therapeutics, Inc. Corporate Events
Business Operations and StrategyFinancial DisclosuresLegal Proceedings
FDA Clinical Hold Halts Aardvark’s ARD-101 Late-Stage Program
Negative
May 14, 2026
On May 14, 2026, Aardvark Therapeutics said the U.S. Food and Drug Administration placed a full clinical hold on its investigational new drug application for ARD-101, following the company’s earlier voluntary pause. The hold affects all ongo...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Aardvark Therapeutics Establishes $150 Million Equity Program
Positive
Mar 24, 2026
On March 23, 2026, Aardvark Therapeutics, Inc. entered into an equity distribution agreement with Piper Sandler Co., allowing the company, at its discretion, to offer and sell up to $150 million of its common stock from time to time under an effe...
Business Operations and StrategyProduct-Related Announcements
Aardvark Pauses ARD-101 Phase 3 HERO Trial Enrollment
Negative
Feb 27, 2026
On February 27, 2026, Aardvark Therapeutics said it had voluntarily paused enrollment and dosing in its Phase 3 HERO trial of ARD-101 for hyperphagia in Prader-Willi Syndrome, along with the related open-label extension study. The move followed re...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.