Aardvark Therapeutics initiated with a Buy at BTIG

BTIG initiated coverage of Aardvark Therapeutics (AARD) with a Buy rating and $26 price target Aardvark is a clinical stage biopharmaceutical company developing ARD-101, a TAS2R agonist for Prader Willi syndrome, and ARD-201 for weight loss and weight rebound prevention, the analyst tells investors in a research note. The firm believes ARD-101’s “excellent” safety profile and “differentiated” mechanism are underappreciated by the Street. The real share upside, however, comes from ARD-201 and the opportunity to prevent weight regain from GLP-1 discontinuations, contends BTIG.