Morgan Stanley downgrades Aardvark Therapeutics stock rating on trial pause
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try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Gold prices jump 2% amid widening US-Israel conflict with Iran Asia stocks slide as US-Iran strikes batter risk appetite Middle East tensions rise as Iran promises retaliation $100+ oil back in play if Hormuz disruption worsens: analysts (South Africa Philippines Nigeria) Morgan Stanley downgrades Aardvark Therapeutics stock rating on trial pause By Investing.com Analyst Ratings Published 03/02/2026, 03:24 AM Morgan Stanley downgrades Aardvark Therapeutics stock rating on trial pause 0 AARD -0.08% Investing.com - Morgan Stanley downgraded Aardvark Therapeutics Inc (NASDAQ:AARD) to Equalweight from Overweight and cut its price target to $7.00 from $29.00. The downgrade follows Aardvark’s announcement Friday after market close that it is voluntarily pausing its Phase 3 HERO trial of ARD-101 in Prader-Willi syndrome following reversible cardiac observations found during routine safety monitoring in a healthy volunteer study.The biotech company, with a market capitalization of $272 million, now trades at $12.49, down 72% from its 52-week high. According to InvestingPro analysis, the stock appears slightly overvalued at current levels. An InvestingPro Tip notes the company is quickly burning through cash, though it maintains a strong current ratio of 12.03 and holds more cash than debt. Morgan Stanley noted the observations were not characterized as serious adverse events and occurred in a healthy volunteer dose cohort above the target therapeutic dose used in the Prader-Willi syndrome study. The cardiac observations were not seen in any ongoing or prior clinical trials at targeted therapeutic doses. The FDA has not placed the HERO study on clinical hold. Aardvark plans to meet with the agency in the near term and provide a comprehensive update on the program in the second quarter of 2026. The company no longer expects topline data from the Phase 3 HERO study in the third quarter of 2026. Morgan Stanley cited unce...
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