BioAge Labs initiated with a Buy at Citi

Citi analyst Samantha Semenkow initiated coverage of BioAge Labs (BIOA) with a Buy rating and $45 price target BioAge is a clinical-staged biotech focused on advancing therapies for metabolic diseases, the analyst tells investors in a research note. The firm says the company’s lead asset, azelaprag, is an oral, small molecule agonist of the apelin receptor in development for obesity. It sees a favorable risk/reward for BioAge shares into the STRIDES readout, saying azelaprag is an oral, easily manufactured small molecule and “robust” preclinical data support the potential for an attractive clinical profile in obesity.