Mineralys Therapeutics: Lorundrostat’s Broad Efficacy, Favorable Safety, and Upside Indications Support Buy Rating on MLYS

Analyst Rami Katkhuda of LifeSci Capital maintained a Buy rating on Mineralys Therapeutics, Inc., retaining the price target of $54.00.

Rami Katkhuda has given his Buy rating due to a combination of factors that highlight both the clinical and commercial potential of Mineralys Therapeutics. He points to the company’s successful pivotal studies of lorundrostat in patients with uncontrolled and resistant hypertension, which supported the submission of a New Drug Application to the FDA in late 2025. Subgroup analyses from the Launch-HTN trial suggest that lorundrostat provides consistent, clinically meaningful blood pressure reductions across diverse patient demographics and treatment backgrounds, reinforcing confidence in the breadth of its efficacy. In addition, key opinion leaders view the overall safety and tolerability profile favorably, especially in light of the relatively low rates of serious adverse events, discontinuations, and confirmed hyperkalemia, and see a defined role for aldosterone synthase inhibitors in later-line therapy with potential to move earlier over time.
Katkhuda also frames his positive stance within the broader competitive and market landscape for aldosterone synthase inhibitors. He notes AstraZeneca’s baxdrostat advancing toward an expected 2026 PDUFA date, underscoring regulatory momentum and validating the class, while projecting that the large pool of U.S. patients who remain uncontrolled on multiple antihypertensive agents can support several successful products. Moreover, Mineralys is advancing lorundrostat into a Phase II study in obstructive sleep apnea with hypertension, targeting a population characterized by elevated aldosterone levels where mechanism-based rationale supports additional therapeutic benefit. The upcoming data from this study in early 2026 represent an important potential upside driver, alongside a solid cash runway, leading Katkhuda to conclude that the risk/reward profile justifies a Buy rating on MLYS shares.