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