H.C. Wainwright downgraded MoonLake Immunotherapeutics (MLTX) to Neutral from Buy without a price target The VELA Phase 3 hidradenitis suppurativa readout failed to provide convincing evidence of efficacy, the analyst tells investors in a research note. The firm says sonelokimab “clearly appears inferior” to Bimzelx in hidradenitis suppurativa and thus may be difficult to commercialize in this condition.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MLTX:
- MoonLake Immunotherapeutics downgraded to Neutral from Buy at Goldman Sachs
- Unusually active option classes on open September 30th
- MoonLake Immunotherapeutics price target lowered to $20 from $66 at Needham
- Guggenheim cuts MoonLake Immunotherapeutics price target, removes as Best Idea
- Hold Rating for MoonLake Immunotherapeutics Amid Clinical and Financial Challenges