Aeglea BioTherapeutics initiated with a Buy at Stifel

Stifel initiated coverage of Aeglea BioTherapeutics with a Buy rating and 90c price target. The analyst says “clear white space opportunities still exist” within ulcerative colitis and Crohn’s disease markets despite what has become an increasingly competitive development landscape. Aeglea’s lead candidate SPY001 is designed to improve upon Entyvio, the $5B mega-blockbuster, by building on the observed exposure/efficacy relationship in ulcerative colitis while also optimizing for a subcu presentation via incorporation of half-life extension mutations, the analyst tells investors in a research note.