Aeglea Biotherapeutics (AGLE) PT Lowered to $18 at BMO Capital

BMO Capital lowered its price target on Aeglea Biotherapeutics (NASDAQ: AGLE) to $18.00 (from $21.00) while maintaining a Outperform rating.

Analyst Ian Somaiya comments "Multi-dose data with pegzilarginase in two Arginase-1-deficiency (ARG1-D) patients shows near normalization of arginine levels (and guanidino-compounds) over an eight-week period. As the magnitude of these reductions has never been achieved before using conventional diet-control/ammonia scavengers, pegzilarginase opens up the possibility for seeing greater/earlier clinical benefit with long-term dosing, into which we expect visibility at the upcoming ACMG meeting (April 12) with 12-week data and potentially larger sample size by 3Q. To date, all but one case of ADA were confirmed against the PEGylated-portion, with patients able to continue therapy."

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