Zealand Pharma A/S (NASDAQ:ZEAL)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a note issued to investors on Monday, October 16th. They presently have a $26.00 price objective on the stock. Needham & Company LLC’s target price suggests a potential upside of 41.69% from the stock’s previous close.
The analysts wrote, “We recently hosted several meetings with investors and Zealand CEO Britt Jensen. Timelines appear intact for several events over the next 3-4 months, including results from a trial in healthy volunteers evaluating feasibility of once-weekly glepaglutide, presentation of Phase 2 glepaglutide data in Short Bowel Syndrome, initiation of a second Phase 3 dasiglucagon trial for Acute Hypoglycemia, and possibly initiation of a Phase 2/3 trial of dasiglucagon in a single-chamber pump format in Congenital Hyperinsulinism (CHI). Collectively, investors were interested in both glepaglutide and dasiglucagon programs, but individually, were more focused on one or the other. Reiterate BUY. We have not included pump applications of dasiglucagon in our valuation. Progress in the form of a deal with a pump maker and Phase 2/3 trial initiation in CHI would represent an important step forward for the company.””
ZEAL has been the subject of a number of other reports. Goldman Sachs Group, Inc. (The) initiated coverage on Zealand Pharma A/S in a research note on Wednesday, September 27th. They issued a “buy” rating for the company. Morgan Stanley initiated coverage on Zealand Pharma A/S in a research report on Tuesday, September 5th. They set an “overweight” rating and a $28.00 target price for the company. Finally, Guggenheim initiated coverage on Zealand Pharma A/S in a research report on Tuesday, September 5th. They set a “buy” rating and a $28.00 target price for the company.
Zealand Pharma A/S (ZEAL) opened at 18.35 on Monday. The firm has a 50 day moving average price of $19.08 and a 200-day moving average price of $18.84. Zealand Pharma A/S has a 12 month low of $16.07 and a 12 month high of $20.37. The firm’s market capitalization is $564.24 million.
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About Zealand Pharma A/S
Zealand Pharma A/S, a biotech company, engages in the discovery, design, and development of novel peptide-based medicines in Denmark. The company markets Lixisenatide, a once-daily prandial GLP-1 peptide receptor agonist for the treatment of type 2 diabetes under the Adlyxin and Lyxumia names; and Soliqua 100/33/Suliqua, a combination of lixisenatide and insulin glargine, and a GLP-1 receptor agonist for the treatment of type 2 diabetes.
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