Mineralys Therapeutics initiated with a Buy at Goldman Sachs

Goldman Sachs initiated coverage of Mineralys Therapeutics with a Buy rating and $30 price target. The company’s lead asset, lorundrostat, is a selective aldosterone synthase inhibitor being developed in 3/4L hypertension, which still has an unmet need due to standard of care spironolactone’s gynecomastia and hyperkalemia effects, the analyst tells investors in a research note. The firm believes lorundrostat’s level of efficacy can achieve best-in-class and that Mineralys’ targeted approach for obesity-related hypertension settings could still treat 7M-8M targetable patients in the U.S. alone.