Wells Fargo analyst Mohit Bansal initiated coverage of Mineralys Therapeutics with an Overweight rating and $27 price target. The analyst is encouraged by the stock’s setup given the company’s sub-$500M enterprise value for a "de-risked" blood pressure drug MLS-101. The firm sees a "positive skew" into the first half of 2024, with readouts of Phase 2 trials in hypertension and kidney disease.
Published first on TheFly
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