MoonLake Immunotherapeutics, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Serge Belanger from Needham maintained a Buy rating on the stock and has a $66.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Serge Belanger has given his Buy rating due to a combination of factors, despite the recent setbacks in MoonLake Immunotherapeutics’ VELA trials. The primary reason for the Buy rating is the potential of MoonLake’s broader pipeline, which includes promising trials beyond the VELA program. While the VELA trials showed a higher-than-expected placebo effect, leading to a miss on the primary endpoint, the company is actively engaging with regulators to determine the next steps, which could still lead to a BLA filing.
Additionally, MoonLake’s ongoing and future trials in other indications, such as psoriatic arthritis and other inflammatory conditions, present significant opportunities for growth. The upcoming results from these trials could provide a positive catalyst for the stock. Despite the current challenges, the potential for MoonLake’s diverse pipeline and strategic initiatives supports the Buy recommendation.
In another report released yesterday, LifeSci Capital also maintained a Buy rating on the stock with a $75.00 price target.