Analysts Keep Buy Ratings on Fractyl Health (GUTS)

Fractyl Health, Inc. (NASDAQ:GUTS) is one of the 10 Best New Penny Stocks to Invest In. On December 19, Canaccord Genuity reiterated its Buy rating on Fractyl Health, Inc. (NASDAQ:GUTS) with a price target of $8. This comes after a series of virtual meetings with the company’s leadership, including Co-founder and Chief Executive Officer, Dr. Harith Rajagopalan, along with Head of Investor Relations and Corporate Development, Brian Luque.

During the meetings, many key areas of the business were discussed, including the underlying mechanism of duodenal ablation, the Revita procedure and its clinical profile, current development and regulatory status, commercial opportunities for Fractyl Health, Inc. (NASDAQ:GUTS), reimbursements, and the six-month midpoint data readout from the REMAIN-1 study, which is expected in January.

Canaccord Genuity pointed out that much of the discussion focused on the commercial opportunities for Fractyl Health, Inc. (NASDAQ:GUTS). These were supported by the positive clinical data that the company has shared so far. The research firm expressed confidence following these meetings.

Previously, on December 2, H.C. Wainwright also reaffirmed its Buy rating on Fractyl Health, Inc. (NASDAQ:GUTS) while keeping the price target at $8.

Also on December 2, Fractyl Health, Inc. (NASDAQ:GUTS) announced positive six-month results from its open-label REVEAL-1 Cohort, which involved individuals with obesity who had lost at least 15% of their total body weight using GLP-1 medications and who either needed or chose to stop GLP-1 therapy.

The data showed that patients who received a single Revita procedure after stopping GLP-1 therapy were able to maintain stable body weight and glycemic control over a six-month period. This highlights Revita’s potential as a first-in-class therapy for maintaining weight loss after discontinuation of GLP-1 therapy.

Fractyl Health, Inc. (NASDAQ:GUTS) a metabolic therapeutics company focused on pioneering pattern-breaking approaches that treat root causes of serious metabolic diseases like obesity and type 2 diabetes (T2D).

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Disclosure: None. This article is originally published at Insider Monkey.