In a report released yesterday, Tim Anderson from Bank of America Securities maintained a Buy rating on Mineralys Therapeutics, Inc., with a price target of $43.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Tim Anderson has given his Buy rating due to a combination of factors that highlight the competitive position of Mineralys Therapeutics, Inc. in the market. The recent data from AZN on their drug baxdrostat, presented at the European Society of Cardiology, showed similar efficacy and safety profiles to Mineralys’s lorundrostat. This suggests that lorundrostat remains competitive in its clinical profile, despite AZN’s established commercial presence.
Moreover, the longer-term data from AZN indicate a potential class effect where aldosterone synthase inhibitors (ASIs) could alter the disease trajectory, which adds value to Mineralys’s offerings. The focus for Mineralys is now on strategic partnerships and upcoming regulatory milestones, including a pre-NDA meeting with the FDA and potential market launch in 2026. These elements, combined with a favorable price objective of $43.00 USD, support the Buy rating for MLYS stock.
In another report released on August 31, LifeSci Capital also maintained a Buy rating on the stock with a $44.00 price target.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MLYS in relation to earlier this year.