TD Cowen analyst Phil Nadeau has maintained their bullish stance on MLTX stock, giving a Buy rating on April 30.
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Phil Nadeau has given his Buy rating due to a combination of factors including the promising developments in MoonLake Immunotherapeutics’ clinical programs. The completion of enrollment in the VELA pivotal program for hidradenitis suppurativa (HS) and the expected release of topline data by September are significant milestones. The consistency of patient baseline characteristics with previous successful trials increases confidence in the potential positive outcomes of these studies.
Additionally, the interim results from the Phase II LEDA trial for palmoplantar pustulosis (PPP) showed a substantial reduction in PPPASI scores, suggesting a strong proof-of-concept and potentially a best-in-class profile. With no current approved treatments for PPP in the US or EU, the successful advancement of sonelokimab in this area could open a significant market opportunity, estimated at over $3 billion. These factors contribute to the optimism surrounding MoonLake Immunotherapeutics’ stock, justifying the Buy rating.
In another report released on April 30, BTIG also maintained a Buy rating on the stock with a $85.00 price target.