Leerink Partners analyst Thomas Smith has maintained their bullish stance on MLTX stock, giving a Buy rating on July 30.
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Thomas Smith has given his Buy rating due to a combination of factors, primarily focusing on the strategic transition in the Chief Medical Officer role at MoonLake Immunotherapeutics. The appointment of Dr. Wulf Boecher, who brings a wealth of experience from his previous position at Galapagos, is seen as a positive development that aligns with the company’s ongoing clinical objectives. The transition is not expected to disrupt the company’s operations or clinical timelines, as Dr. Kristian Reich, a key figure in the company’s scientific leadership, continues to drive the clinical programs.
Smith also highlights the company’s strong execution in clinical trials, particularly for their lead product, sonelokimab, in treating hidradenitis suppurativa. The upcoming Phase 3 VELA data is anticipated to provide pivotal insights, potentially reinforcing the drug’s best-in-class potential. This, in turn, could renew strategic interest in the company. Overall, the analyst remains optimistic about MoonLake’s pipeline progress and its ability to deliver on clinical milestones, making it one of the top picks in the healthcare sector.
In another report released on July 30, Guggenheim also reiterated a Buy rating on the stock with a $80.00 price target.
Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MLTX in relation to earlier this year.