Aardvark Therapeutics shares rise 12.74% premarket after Raymond James initiates 'Strong Buy' and announces Q3 2026 Phase III data timeline.

Aardvark Therapeutics (AARD) surged 12.74% in premarket trading, driven by a Raymond James upgrade to 'Strong Buy' and anticipation of Q3 2026 Phase III data for its Prader-Willi Syndrome candidate. The stock’s rally outpaced biotech peers as the analyst highlighted the pipeline’s potential to address metabolic diseases via TAS2R-targeting mechanisms. The upgrade, coupled with the near-term data timeline, fueled optimism about AARD-101’s commercial prospects, while broader sector momentum—evidenced by Amgen’s 0.85% rise—further supported the move. Technical indicators, including a 26.89% gap-up from the prior close, underscored the stock’s overbought condition but aligned with the bullish catalysts. Unrelated news about a zoo’s aardvark addition and an educational newsletter had no impact on the stock’s performance.