UBS starts Zealand Pharma with 'buy' on 2026 obesity drug catalysts

Zealand Pharma A/S

23/09/2025 10:50

** UBS starts coverage of Zealand Pharma ZELA.CO with "buy" rating citing key 2026 clinical catalysts that could strengthen investor confidence in the company's obesity drugs

** ZELA up 4.6% at 0918 GMT

** "Zealand has multiple catalysts due in 2026 that could address many investor concerns, and provide investor confidence in peak sales outlooks for key pipeline assets survodutide and petrelintide," UBS analysts write in a note

** Roche ROG.S collaboration could bring $2.9 billion in near-term  payments -- UBS

** The broker says survodutide is highly likely to show comparable weight loss to existing obesity drugs, with acceptable tolerability in H1 2026

** Adds petrelintide has "best-in-class potential", forecasting 50% chance it touches $8bn in peak sales by 2040

** Out of 17 analysts that cover Zealand Pharma, 15 rate the stock "strong buy" or "buy", ​two rate "hold"

 (Reporting by Jesus Calero)

 ((jesus.calero@thomsonreuters.com))