Guggenheim raised the firm’s price target on MoonLake Immunotherapeutics to $80 from $77 and keeps a Buy rating on the shares following the company’s Q4 report. Yesterday’s weakness was driven by a narrative that “the company is starting the Phase III studies, hence M&A is off the table,” but with strong results across three indications supporting “a multi-billion dollar opportunity,” the firm continues to view sonelokimab as “one of the most valuable assets in I&I and would be buyers of the stock at the current level,” the analyst tells investors.
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