Mineralys Therapeutics, Inc. (MLYS) has received a new Hold rating, initiated by Jefferies analyst, Dennis Ding.
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Dennis Ding has given his Hold rating due to a combination of factors surrounding Mineralys Therapeutics, Inc.’s novel blood pressure medication. While the drug is clinically de-risked and has the potential to capture a significant market share, the expected approval and launch timeline, set for 2027, presents a period of execution and commercial preparation challenges. The consensus projects a $1 billion revenue by 2033, but Ding’s estimates are more conservative, considering potential access issues and competition from AstraZeneca, which could impact the drug’s market penetration.
Furthermore, while there is optimism about the drug’s demand among primary care providers and cardiologists, there are concerns about the adoption rate due to potential barriers such as step edits and quantity limits. Additionally, the possibility of a commercial partnership to expedite the launch remains uncertain, and such a move could affect any near-term merger or acquisition scenarios. These dynamics lead to a cautious outlook, justifying the Hold rating as the company navigates these challenges.
According to TipRanks, Ding is an analyst with an average return of -8.4% and a 36.67% success rate. Ding covers the Healthcare sector, focusing on stocks such as NewAmsterdam Pharma Company, Amicus, and Rhythm Pharmaceuticals.