LifeSci Capital analyst Rami Katkhuda has maintained their bullish stance on MLTX stock, giving a Buy rating today.
Rami Katkhuda’s rating is based on several promising developments at MoonLake Immunotherapeutics. The company recently hosted a Capital Markets Day where they highlighted the upcoming Phase III VELA readout for their drug sonelokimab in treating hidradenitis suppurativa (HS). The recruitment for this trial was completed significantly faster than the industry average, which indicates strong operational efficiency and potential for timely results.
Additionally, the company has secured a substantial non-dilutive financing agreement with Hercules Capital, providing up to $500 million, which strengthens their financial position. The similarity of the Phase III VELA protocol to the successful Phase II MIRA study reduces the risk associated with the pivotal program. These factors, combined with the attractive product profile of sonelokimab across multiple billion-dollar indications, suggest meaningful upside potential for the stock, justifying the Buy rating.
In another report released today, Needham also maintained a Buy rating on the stock with a $66.00 price target.