Guggenheim raised the firm’s price target on MoonLake Immunotherapeutics to $65 from $51 and keeps a Buy rating on the shares. After the company reported “highly anticipated” 12 week results from their Phase 2 study of sonelokimab in hidradenitis suppurativa, or HS, the firm said the drug showed “truly remarkable results.” The firm describes MoonLake as “a very attractive company from a BD perspective,” especially since it contends that sonelokimab is now in a position to “potentially take leading market share within the IL-17 class,” if approved.
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Published first on TheFly
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