MoonLake Immunotherapeutics: Fast-Track Sonelokimab and Multi-Indication Late-Stage Catalysts Underpin Buy Rating and $32 Target

Analyst Ram Selvaraju of H.C. Wainwright reiterated a Buy rating on MoonLake Immunotherapeutics, retaining the price target of $32.00.

Ram Selvaraju has given his Buy rating due to a combination of factors related to MoonLake’s lead asset, sonelokimab, and its regulatory and clinical trajectory. He highlights the recent Fast Track designation by the FDA for sonelokimab in moderate-to-severe palmoplantar pustulosis as a key validation of both the seriousness of the disease and the unmet need, particularly given the lack of approved therapies. This designation not only supports the therapeutic promise of sonelokimab but also offers a more efficient regulatory path, including enhanced interaction with the FDA, potential eligibility for accelerated and Priority Review, and the ability to submit portions of the BLA on a rolling basis, all of which can shorten time to market and de-risk development.

Selvaraju also bases his Buy rating on the breadth and timing of upcoming catalysts that he believes can further unlock value. He points to the imminent Phase 2 readout in axial spondyloarthritis, multiple Phase 3 updates in hidradenitis suppurativa (including adult and adolescent populations), and the ongoing Phase 3 program in psoriatic arthritis as important opportunities to demonstrate sonelokimab’s efficacy across several inflammatory conditions. The planned Investor Day, where management will detail these data, regulatory strategy, and financial positioning, is expected to give additional clarity on the development and commercialization path. In his view, if the pending readouts are favorable, investor perception of sonelokimab’s commercial potential should strengthen substantially, supporting both the reiterated Buy rating and the $32 price target.

According to TipRanks, Selvaraju is a 5-star analyst with an average return of 25.8% and a 56.43% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Vanda, Coya Therapeutics, Inc., and Emergent Biosolutions.

In another report released on January 20, LifeSci Capital also maintained a Buy rating on the stock with a $33.00 price target.