Analyst Matthew Caufield from H.C. Wainwright reiterated a Buy rating on Mineralys Therapeutics, Inc. (MLYS – Research Report) and keeping the price target at $42.00.
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Matthew Caufield has given his Buy rating due to a combination of factors including the successful outcomes of the pivotal Advance-HTN and Launch-HTN trials for lorundrostat. These trials demonstrated significant blood pressure reduction in patients with uncontrolled or resistant hypertension, surpassing clinically meaningful thresholds. The drug’s mechanism as a selective aldosterone synthase inhibitor showed promising results in both safety and efficacy, which are supported by key opinion leaders.
Additionally, the upcoming Phase 2 Explore-CKD trial, which will assess lorundrostat’s effectiveness in chronic kidney disease patients, further strengthens its potential. The anticipated discussions with the FDA for a New Drug Application in late 2025 also contribute to the positive outlook. These factors, combined with the broader applications of lorundrostat within the pipeline, underpin the reiterated Buy rating and the $42 price target.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $26.00 price target.
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MLYS in relation to earlier this year.