Thomas Smith, an analyst from Leerink Partners, maintained the Buy rating on MoonLake Immunotherapeutics (MLTX – Research Report). The associated price target remains the same with $73.00.
Thomas Smith’s rating is based on several compelling factors that highlight the potential of MoonLake Immunotherapeutics. The company recently hosted a Capital Markets Day event, where it shared promising clinical updates for its lead asset, sonelokimab, which is being developed for conditions such as hidradenitis suppurativa (HS) and palmoplantar pustulosis (PPP). The baseline characteristics from the Phase 3 VELA program in HS align well with other late-stage trials, boosting confidence in the upcoming topline data expected in September 2025.
Additionally, the VELA program has shown low drop-out rates and has successfully completed patient recruitment, indicating strong clinical execution. Market research suggests that HS could represent a significant market opportunity, potentially reaching $10-15 billion by 2035. Furthermore, interim analysis from the Phase 2 LEDA study in PPP indicates potential differentiation from competitors, offering an opportunity in a market lacking approved therapies in the US and Europe. These factors collectively support the Buy rating, as they underscore the company’s strategic positioning and growth potential.
In another report released yesterday, BTIG also maintained a Buy rating on the stock with a $85.00 price target.
MLTX’s price has also changed moderately for the past six months – from $48.190 to $40.180, which is a -16.62% drop .