Zealand falls as Berenberg cuts to 'hold' on fading survodutide hopes

Zealand Pharma A/S

17/06/2026 10:18

** Shares in Zealand Pharma ZELA.CO fall 5% after Berenberg cut the Danish biotech from "buy" to "hold", saying disappointing survodutide data removed a key bridge to petrelintide, with few major catalysts before 2028
** "It will take longer than anticipated to unlock upside in Zealand shares," the broker says in a note
** Survodutide's weak weight-loss data, poor tolerability and high dropout rates are likely to limit its use to a subgroup of obesity patients with liver disease, Berenberg adds
** It says petrelintide still has best-in-class potential, but cuts its peak sales forecast to $5 bln from about $11 bln to reflect increased competition
** "With the opportunity in survodutide fading, management may now accelerate its plans for inorganic investments to enhance the pipeline. Given the lack of track record here, we see incremental risk," Berenberg notes
** Today's losses wiped off 1 billion Danish crowns  ($155.22 million) from Zealand's market cap
** Shares price is at its lowest in more than 3 months
** Out of 18 analysts that cover Zealand Pharma, ten rate the stock "strong buy" or "buy,"​ seven rate "hold" and one rates the stock "sell" - LSEG data


($1 = 6.4426 Danish crowns)

 (Reporting by Jesus Calero)
 ((jesus.calero@thomsonreuters.com))