Shares in Danish biotech Zealand Pharma (NASDAQ) soared over 17% on Friday after announcing positive early-stage study results for its weight loss drug candidate, petrelintide. The study showed an average body weight reduction of 8.6% with high doses of the drug over 16 weeks, compared to a 1.7% decrease with a placebo. Analysts at Jefferies and BTIG praised the results, highlighting petrelintide’s potential as a more tolerable alternative to current GLP-1 therapies. Jefferies forecasts peak sales of $10 billion and maintains a ‘buy’ rating with a DKK790 price target, while BTIG also retains a ‘buy’ rating with a DKK840 price target.
