As previously reported, BofA initiated coverage of Fractyl Health with a Buy rating and $26 price target. The pre-commercial stage “hybrid medtech/biopharma” company develops treatments for type 2 diabetes and obesity and lead asset Revita is a non-invasive endoscopic procedure that restores part of the digestive system to a healthier state. Follow-on asset Rejuva is a one-time, GLP1 gene therapy that aims at remission of diabesity, the analyst noted. The firm likes Fractyl for “actionable catalysts with upside potential” due in 2024 and 2025, the analyst added.
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