UPDATE: BMO Capital Starts Aeglea Biotherapeutics (AGLE) at Outperform

(updated to add analyst comment)

BMO Capital initiates coverage on Aeglea Biotherapeutics (NASDAQ: AGLE) with a Outperform rating and a price target of $21.00.

Analyst Matt Luchini comments "We believe Aeglea’s lead drug, pegzilarginase, could transform the treatment of Arginase I Deficiency (ARG1-D), an ultra-rare disease with limited treatment options. We believe results from the first two patients in Phase I/II trial link plasma arginine level reduction with improvement in clinically relevant endpoints (e.g., 6MWT), helping de-risk the ARG1-D clinical program. We look to an update in 3Q18 to confirm initial results, supporting Phase III initiation in 2019 and approval in 2021. Potential expansion into oncology and preclinical candidates are upside."

For an analyst ratings summary and ratings history on Aeglea Biotherapeutics click here. For more ratings news on Aeglea Biotherapeutics click here.

Shares of Aeglea Biotherapeutics closed at $10.09 yesterday.

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