Wedbush analyst Yun Zhong reiterated a Buy rating on MoonLake Immunotherapeutics (MLTX – Research Report) today and set a price target of $80.00.
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Yun Zhong has given his Buy rating due to a combination of factors that highlight the promising potential of MoonLake Immunotherapeutics. The company is making significant progress with its lead product, sonelokimab (SLK), particularly in the treatment of hidradenitis suppurativa (HS) and psoriatic arthritis (PsA). The ongoing Phase 3 studies for SLK in HS are expected to deliver top-line data by September 2025, and the results from previous Phase 2 studies have shown promising efficacy, suggesting that SLK could become a leading treatment option.
Moreover, MoonLake’s strong financial position, with a substantial cash reserve and access to additional capital, supports its continued research and development efforts. The company’s strategic focus on expanding SLK’s indications, including palmoplantar pustulosis and axial spondyloarthritis, further enhances its growth prospects. These factors, combined with management’s confidence in the upcoming clinical data, underpin Yun Zhong’s positive outlook and Buy rating for MLTX.