MoonLake Immunotherapeutics price target raised to $68 from $36 at BTIG

BTIG raised the firm’s price target on MoonLake Immunotherapeutics to $68 from $36 and keeps a Buy rating on the shares. The company’s Sonelokimab set a high watermark for the entire hidradenitis supparativa, or HS, field, having consistently outperformed the adalimumab comparator arm across every relevant efficacy endpoint while also generating a remarkably clean safety profile, the analyst tells investors in a research note. The drug’s benefit on draining tunnels looks unprecedented and likely speaks to profound disease-modifying activity in HS, the firm adds.