Analyst Yun Zhong of Wedbush reiterated a Buy rating on MoonLake Immunotherapeutics, retaining the price target of $80.00.
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Yun Zhong has given his Buy rating due to a combination of factors surrounding MoonLake Immunotherapeutics. The anticipation of Phase 3 data for sonelokimab (SLK) in treating hidradenitis suppurativa (HS) is a significant driver, with expectations that it will replicate the strong efficacy and safety profile observed in Phase 2. The dual targeting of IL-17 A/F and the drug’s efficient tissue penetration are seen as key advantages, potentially making SLK a competitive therapy in the HS market. Additionally, the company’s robust financial position, with substantial cash reserves and access to non-dilutive debt, supports its ongoing clinical development efforts and provides a runway into 2028.
Further supporting the Buy rating is the potential for SLK to differentiate itself in treating more severe cases of HS, as suggested by key opinion leader feedback. The upcoming data presentations and the possibility of SLK becoming a ‘gold standard’ therapy in HS add to the optimism. Moreover, MoonLake’s exploration of new indications, such as psoriatic arthritis and palmoplantar pustulosis, alongside the expected data from these studies, could provide additional growth opportunities. These factors collectively underpin Yun Zhong’s positive outlook on MoonLake Immunotherapeutics and the reiteration of an Outperform rating with a price target of $80.
According to TipRanks, Zhong is an analyst with an average return of -16.2% and a 38.50% success rate. Zhong covers the Healthcare sector, focusing on stocks such as MannKind, Rocket Pharmaceuticals, and Ascendis Pharma.
In another report released today, Clear Street also reiterated a Buy rating on the stock with a $108.00 price target.