Mineralys Therapeutics, Inc., the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Matthew Caufield from H.C. Wainwright reiterated a Buy rating on the stock and has a $42.00 price target.
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Matthew Caufield has given his Buy rating due to a combination of factors that highlight the potential of Mineralys Therapeutics, Inc.’s lead candidate, lorundrostat. The drug, an oral aldosterone synthase inhibitor, has shown promising results in its Phase 3 trials, demonstrating significant blood pressure reductions in patients with uncontrolled or resistant hypertension. These results are particularly noteworthy when compared to AstraZeneca’s competing drug, baxdrostat, suggesting lorundrostat’s superior efficacy and safety profile.
Additionally, Mineralys has strengthened its financial position with a successful public offering, raising $287.5 million. This funding will support pre-commercialization activities and ongoing clinical development for lorundrostat in other conditions such as chronic kidney disease and obstructive sleep apnea. The company’s strategic advancements and robust clinical data provide a clear path towards an NDA meeting with the FDA, reinforcing the Buy rating and the $42 price target.
Caufield covers the Healthcare sector, focusing on stocks such as Opus Genetics, Diamedica Therapeutics, and LENZ Therapeutics. According to TipRanks, Caufield has an average return of 9.6% and a 49.48% success rate on recommended stocks.
In another report released on September 6, LifeSci Capital also maintained a Buy rating on the stock with a $44.00 price target.