Leerink Partners analyst Thomas Smith reiterated a Buy rating on MoonLake Immunotherapeutics yesterday and set a price target of $73.00.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Thomas Smith has given his Buy rating due to a combination of factors that highlight the potential of MoonLake Immunotherapeutics’ sonelokimab (SLK) in treating moderate-to-severe hidradenitis suppurativa (HS). The upcoming Phase 3 VELA trial results are anticipated to be a significant catalyst for the company’s stock, with expectations that the results will demonstrate SLK’s superiority over existing treatments. Smith’s analysis includes a probability-weighted scenario that suggests a strong likelihood of positive outcomes, which could lead to substantial share price increases.
Furthermore, the analyst’s confidence is bolstered by the recent completion of patient enrollment for the VELA trial and the promising baseline characteristics that mirror the successful Phase 2 MIRA study. The extended evaluation period and improved methodology in the VELA trial add to the optimism. Additionally, discussions with key opinion leaders in dermatology suggest a favorable view of SLK’s potential to outperform competitors in terms of efficacy, safety, and dosing convenience. Smith projects significant sales growth for SLK by 2035, reinforcing the Buy recommendation.
In another report released on August 11, H.C. Wainwright also reiterated a Buy rating on the stock with a $100.00 price target.
MLTX’s price has also changed moderately for the past six months – from $42.330 to $54.170, which is a 27.97% increase.