MoonLake Immunotherapeutics added to Best Ideas List at Wedbush

Wedbush analyst Andreas Argyrides added MoonLake Immunotherapeutics to the firm’s Best Ideas List. Wedbush believes the company’s Capital Markets Day reinforces SLK’s potential best-in-class profile with molecular qualities that could promote deeper penetration into target tissues like the skin and joints and lead to better safety and efficacy compared to competitors like bimekizumab. Positive Phase 2 data for SLK in PsO, Phase 3 results for BKZ in HS, PsA, AxSpA and PsO and results from the Phase 2b/3 and Phase 2 trials for izokibep in HS and PsA, respectively, largely de-risk SLK’s path forward in inflammatory diseases. The firm considers the SLK/HS program to be MoonLake’s biggest value-driver as the HS market remains largely untapped. Wedbush has an Outperform rating on the shares with a price target of $33.