LifeSci Capital analyst Rami Katkhuda maintained a Buy rating on MoonLake Immunotherapeutics (MLTX – Research Report) today and set a price target of $75.00.
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Rami Katkhuda’s rating is based on MoonLake Immunotherapeutics’ strong financial position and promising product pipeline. The company reported a substantial cash reserve of $480.1 million, supplemented by a non-dilutive financing agreement with Hercules Capital, which is expected to support operations until 2028. This financial stability provides a solid foundation for the company’s future growth and development.
Additionally, the potential of sonelokimab, MoonLake’s lead product candidate, is a significant factor in the Buy rating. The Phase III VELA program for treating Hidradenitis Suppurativa (HS) has completed recruitment faster than the industry average, and the upcoming topline data is anticipated to be a key inflection point. The program is considered relatively de-risked due to its similarity to the successful Phase II MIRA study, and expectations are high for sonelokimab to establish itself as a best-in-class treatment, given its promising efficacy profile. These elements contribute to the belief in the stock’s meaningful upside potential.
In another report released today, Needham also maintained a Buy rating on the stock with a $66.00 price target.