TD Cowen analyst Phil Nadeau has maintained their bullish stance on MLTX stock, giving a Buy rating on February 27.
Phil Nadeau has given his Buy rating due to a combination of factors related to MoonLake Immunotherapeutics’ promising drug, sonelokimab (SLK). SLK is an anti-IL-17A/F nanobody currently in pivotal trials for treating inflammatory diseases such as hidradenitis suppurativa (HS) and psoriatic arthritis (PsA). The drug’s unique characteristics, including its small size and dual IL-17 binding domains, make it particularly effective in targeting difficult-to-reach tissues, which is a significant advantage over existing IL-17 inhibitors.
Phil Nadeau’s optimism is further supported by positive Phase II trial results in psoriasis, PsA, and HS, which suggest that SLK is both potent and safe. The expectation of successful pivotal trial outcomes by 2025 and 2026, along with a projected 2027 market launch, positions SLK to capture a substantial market share. With a peak revenue potential estimated at over $4 billion, and a discounted cash flow analysis indicating that MLTX is undervalued, Nadeau views MoonLake as a strong investment opportunity.
According to TipRanks, Nadeau is a 3-star analyst with an average return of 2.1% and a 40.96% success rate. Nadeau covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Neurocrine, and BioMarin Pharmaceutical.
In another report released on February 27, H.C. Wainwright also reiterated a Buy rating on the stock with a $100.00 price target.