Morgan Stanley Reiterates “Underweight” Rating for Aardvark Therapeutics (NASDAQ:AARD)

Aardvark Therapeutics (NASDAQ:AARD)‘s stock had its “underweight” rating reiterated by Morgan Stanley in a report issued on Friday,Benzinga reports. They presently have a $3.00 price target on the stock, down from their prior price target of $7.00. Morgan Stanley’s target price would suggest a potential downside of 55.42% from the stock’s current price.

A number of other brokerages have also issued reports on AARD. Oppenheimer reduced their target price on shares of Aardvark Therapeutics from $35.00 to $21.00 and set an “outperform” rating on the stock in a research report on Monday, March 2nd. HC Wainwright restated a “neutral” rating on shares of Aardvark Therapeutics in a research report on Monday, March 2nd. Weiss Ratings raised Aardvark Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. BTIG Research reiterated a “buy” rating and issued a $9.00 price objective on shares of Aardvark Therapeutics in a research report on Tuesday, March 24th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $6.00 target price (down from $24.00) on shares of Aardvark Therapeutics in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Aardvark Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $22.20.

Aardvark Therapeutics Stock Up 2.1%

Aardvark Therapeutics stock opened at $6.73 on Friday. The stock has a 50-day simple moving average of $4.96 and a 200 day simple moving average of $9.80. Aardvark Therapeutics has a 12-month low of $3.35 and a 12-month high of $17.94. The stock has a market capitalization of $146.85 million, a price-to-earnings ratio of -2.10 and a beta of 5.11.

Aardvark Therapeutics (NASDAQ:AARD) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.99) EPS for the quarter. As a group, sell-side analysts anticipate that Aardvark Therapeutics will post -3.53 EPS for the current year.

Hedge Funds Weigh In On Aardvark Therapeutics

Several large investors have recently bought and sold shares of AARD. UBS Group AG grew its holdings in Aardvark Therapeutics by 5.4% during the 3rd quarter. UBS Group AG now owns 54,728 shares of the company’s stock worth $727,000 after acquiring an additional 2,804 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Aardvark Therapeutics in the 2nd quarter valued at $42,000. Bank of America Corp DE boosted its position in shares of Aardvark Therapeutics by 72.9% in the 2nd quarter. Bank of America Corp DE now owns 7,989 shares of the company’s stock worth $108,000 after purchasing an additional 3,369 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new position in shares of Aardvark Therapeutics in the 4th quarter worth $47,000. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of Aardvark Therapeutics during the fourth quarter worth $56,000.

About Aardvark Therapeutics

Aardvark Therapeutics, Inc is a clinical-stage biopharmaceutical company based in Cambridge, Massachusetts, specializing in the discovery and development of small-molecule modulators of the retinoic acid receptor–related orphan receptor gamma (ROR?). ROR? plays a central role in T-helper 17 (Th17) cell differentiation and inflammatory processes. By targeting this transcription factor, Aardvark aims to address a range of autoimmune and immune-mediated diseases.

The company’s lead programs consist of selective ROR? inverse agonists designed to suppress pathogenic Th17-driven responses in conditions such as psoriasis, inflammatory bowel disease and other chronic inflammatory disorders.