Zealand initiated with Overweight at Cantor ahead of FDA approvals

Cantor Fitzgerald last night initiated coverage of Zealand Pharma with an Overweight rating and no price target. Zealand is a $6B market cap biotech focused on the development of innovative peptide-based drugs, the analyst tells investors in a research note. The analyst says the company’s portfolio consists of wholly owned and partnered obesity/metabolic dysfunction-associated steatohepatitis drugs and two wholly owned rare disease drugs that will likely get FDA approval this year. The key obesity drug for Zealand is a petrelintide that has an important obesity readout in June, adds Cantor.