Zealand Pharma A/S (ZEAL) Survodutide Hits Phase III With Up To 13.1% Weight Loss

Zealand Pharma (ZEAL.CO) announced a positive EU opinion for Zeydovio (glepaglutide) in treating short bowel syndrome, based on Phase 3 trial data. The CHMP recommendation, supported by significant trial results, awaits European Commission approval. The company is also advancing a U.S. trial for potential FDA submission.

Royalty Pharma (RPRX) agreed to a $100M deal with Zealand Pharma for rights to a rare blood disorder therapy. RPRX shares are down 1.86% to $60.58, but up 11.16% over 90 days and 70.08% over a year. Analysts debate its valuation, with some calling it 2% overvalued at $59.25, while a DCF model suggests it's heavily discounted at $195.31.

Jefferies downgraded Zealand Pharma (ZELA) from Buy to Hold and cut its price target to DKK 320 from DKK 505, citing no near-term value catalysts in 2H 2026. It reduced the probability of success for survodutide to 40% from 60% due to tolerability concerns after Phase III data. Shares fell about 2% with no Zealand-specific news.

Jefferies downgraded Zealand Pharma A/S to Hold from Buy and cut its price target to DKK320 from DKK505, citing fewer near-term catalysts. The firm lowered survodutide Phase III success odds to 40% from 60% after disappointing data. Zealand shares fell 2.7% to DKK273.40 in Copenhagen.

Synopsys signed a multi-year, $1bn+ deal with Amazon for silicon IP solutions, making Amazon its lead customer. The agreement includes a license-plus-royalty model and collaboration on AI-driven chip design. Synopsys will also use Amazon's cloud services. Separately, Synopsys partnered with OpenAI to develop GPT-Synopsys for semiconductor design workflows.

JPMorgan initiated Spyre Therapeutics (NASDAQ:SYRE) with an Overweight rating and a $110 price target, citing its IBD pipeline and combination therapy potential. The stock has gained 441% in the past year. Other analysts have mixed views, with some downgrading due to valuation concerns and others maintaining Buy ratings. Spyre reported Phase II results for its rheumatoid arthritis program, which showed efficacy but did not meet internal thresholds for monotherapy prioritization.