Aardvark Therapeutics (NASDAQ:AARD) Price Target Cut to $25.00 by Analysts at Bank of America

Key Points

• Bank of America has lowered its price target for Aardvark Therapeutics from $26.00 to $25.00, while still maintaining a "buy" rating on the stock.
• Aardvark Therapeutics posted a quarterly loss of ($0.66) EPS, missing the consensus estimate of ($0.52).
• The stock has experienced a significant drop, currently trading around $8.75, despite average analysts rating it as a "Buy" with a price target of $32.60.

Aardvark Therapeutics (NASDAQ:AARD - Get Free Report) had its price objective cut by equities researchers at Bank of America from $26.00 to $25.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Bank of America's price objective points to a potential upside of 185.71% from the company's current price.

Several other brokerages also recently issued reports on AARD. HC Wainwright initiated coverage on Aardvark Therapeutics in a report on Monday, June 30th. They set a "buy" rating and a $40.00 price target for the company. Wall Street Zen lowered Aardvark Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Finally, Royal Bank Of Canada reduced their price target on Aardvark Therapeutics from $20.00 to $19.00 and set an "outperform" rating on the stock in a research report on Thursday, August 14th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Aardvark Therapeutics currently has an average rating of "Buy" and an average price target of $32.60.

Aardvark Therapeutics Price Performance

NASDAQ AARD traded down $0.24 during trading hours on Thursday, reaching $8.75. 47,620 shares of the company's stock were exchanged, compared to its average volume of 86,029. Aardvark Therapeutics has a one year low of $4.88 and a one year high of $19.58. The company's 50-day moving average is $12.23 and its two-hundred day moving average is $10.96.

Aardvark Therapeutics (NASDAQ:AARD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.14).

Institutional Investors Weigh In On Aardvark Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings in Aardvark Therapeutics by 72.9% in the second quarter. Bank of America Corp DE now owns 7,989 shares of the company's stock valued at $108,000 after purchasing an additional 3,369 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Aardvark Therapeutics in the 2nd quarter valued at approximately $42,000. New York State Common Retirement Fund purchased a new stake in Aardvark Therapeutics in the 2nd quarter valued at approximately $99,000. Geode Capital Management LLC boosted its stake in shares of Aardvark Therapeutics by 129.7% during the 2nd quarter. Geode Capital Management LLC now owns 136,927 shares of the company's stock worth $1,851,000 after acquiring an additional 77,327 shares in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Aardvark Therapeutics during the 1st quarter worth approximately $153,000.

Aardvark Therapeutics Company Profile

Aardvark Therapeutics, Inc operates as a biotechnology company. It engages in the development of a novel small molecule therapeutics for obesity and metabolic diseases. The company was founded by Tien Lee in 2017 and is headquartered in San Diego, CA.

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