AGLE - Aeglea BioTherapeutics upgraded to overweight at Wells Fargo on pegtarviliase optimism

• Wells Fargo has upgraded Aeglea BioTherapeutics ( NASDAQ: AGLE ) to overweight from equal weight citing for upcoming data this quarter for homocystinuria candidate pegtarviliase.
• The firm upped its price target to $2 from $1.50 (~251% upside based on Thursday's close).
• Shares are up 17% in premarket trading.
• Analyst Yanan Zhu noted that pegtarviliase's once-weekly dosing is an important differentiator from competitor Travere Therapeutics ( TVTX ) pegtibatinase, also in development.
• Both pegtarviliase and pegtibatinase are in phase 2.
• Homocystinuria is an inherited condition characterized by the inability of the body to process amino acid proteins properly.
• Zhu added that additional upside could come from company's Arginase 1 Deficiency program, which is focused on pegzilarginase, and is  partnered with Immedica.
• Seeking Alpha's Quant rating views Aeglea ( AGLE ) as a hold with high marks for valuation and revisions .

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