Guggenheim analyst Yatin Suneja initiated coverage of MoonLake Immunotherapeutics with a Buy rating and $51 price target. The firm has a positive view of MoonLake’s differentiated IL-17 inhibitor sonelokimab, which is currently in Phase II trials for hidradenitis suppurativa and psoriatic arthritis, the analyst tells investors in a research note. If approved, Guggenheim estimates global peak sales for sonelokimab in HS of over $2B, with additional upside potential driven by success in PsA and additional IL-17-mediated indications.
Published first on TheFly
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