Bank of America Securities analyst Tim Anderson maintained a Buy rating on Mineralys Therapeutics, Inc. (MLYS – Research Report) today and set a price target of $38.00.
Don’t Miss TipRanks’ Half Year Sale
- Take advantage of TipRanks Premium for 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Tim Anderson has given his Buy rating due to a combination of factors related to Mineralys Therapeutics, Inc.’s recent clinical trial results and future prospects. The company presented comprehensive data from its Phase 3 Launch-HTN trial at the European Meeting on Hypertension and Cardiovascular Protection, which demonstrated consistent efficacy across various patient subgroups. This consistency supports the potential for broad adoption of their drug, lorundrostat, in treating uncontrolled or resistant hypertension.
Additionally, the safety data revealed no unexpected adverse events, reinforcing confidence in the drug’s profile. Mineralys is planning a pre-New Drug Application meeting with the FDA, which is expected to clarify the regulatory path forward. This meeting, along with the potential for finding a commercialization partner, positions the company well for future growth. The current stock price of $15.96, compared to the price objective of $38.00, suggests significant upside potential, further justifying the Buy rating.
According to TipRanks, Anderson is a 4-star analyst with an average return of 9.7% and a 71.43% success rate. Anderson covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, Gilead Sciences, and Johnson & Johnson.
In another report released on May 13, Guggenheim also maintained a Buy rating on the stock with a $48.00 price target.