TD Cowen analyst Phil Nadeau has maintained their bullish stance on MLTX stock, giving a Buy rating on November 3.
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Phil Nadeau’s rating is based on MoonLake Immunotherapeutics’ promising clinical trial results and strategic regulatory engagements. The company reported positive outcomes from its Phase II LEDA trial in palmoplantar pustulosis (PPP), achieving a competitive 64% change from baseline in PPPASI at week 16, which supports the initiation of a Phase III trial. Additionally, the ongoing VELA open-label extension study shows continued improvement, indicating the potential effectiveness of sonelokimab.
Moreover, MoonLake’s proactive approach in securing a Type B meeting with the FDA to discuss sonelokimab’s development in hidradenitis suppurativa (HS) demonstrates a clear regulatory strategy. Despite some challenges in the Phase III VELA program, the overall data suggest sonelokimab is a promising treatment, and experts believe it could become a leading drug in HS. The company’s engagement with regulators and the anticipated feedback from the FDA meeting reinforce confidence in its path to potential approval.
In another report released on November 3, H.C. Wainwright also upgraded the stock to a Buy with a $30.00 price target.
Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is neutral on the stock.