Stifel initiated coverage of Aardvark Therapeutics (AARD) with a Buy rating and $24 price target The firm believes the company’s ARD-101 is an “under-the-radar,” late-stage Prader-Willi syndrome play. Stifel believes the drug has a higher probability of sucess than the shares currently imply, creating a “compelling setup.” At a $200M enterprise value, Aardvark’s risk/reward is “heavily upside-biased,” the analyst tells investors in a research note.
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