Needham analyst Serge Belanger maintained a Buy rating on MoonLake Immunotherapeutics (MLTX – Research Report) today and set a price target of $66.00.
Serge Belanger has given his Buy rating due to a combination of factors related to MoonLake Immunotherapeutics’ promising developments in their clinical trials and market potential. The company is progressing with its phase 3 HS trials, VELA-1 and VELA-2, with expectations for results in the third quarter of 2025. The trials aim to surpass the efficacy of the current leading treatment, bimekizumab, by achieving a higher placebo-adjusted difference in HISCR75, which would position their SLK treatment as a strong competitor in the HS market projected to grow significantly by 2035.
Additionally, MoonLake has reported encouraging interim results from its phase 2 POC trial for SLK in PPP, showing potential in down-regulating IL-17 tissue activity and achieving significant changes in PPPASI scores. With no approved treatments currently available for PPP, the success of SLK could open up a substantial market opportunity estimated at $3 billion to $4 billion. These clinical advancements and market prospects underpin Belanger’s optimistic outlook and Buy rating for MoonLake Immunotherapeutics.
According to TipRanks, Belanger is an analyst with an average return of -1.5% and a 37.20% success rate. Belanger covers the Healthcare sector, focusing on stocks such as Cytokinetics, Esperion, and KalVista Pharmaceuticals.
In another report released today, Wedbush also maintained a Buy rating on the stock with a $78.00 price target.