Analyst Rami Katkhuda of LifeSci Capital maintained a Buy rating on MoonLake Immunotherapeutics, retaining the price target of $75.00.
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Rami Katkhuda has given his Buy rating due to a combination of factors surrounding MoonLake Immunotherapeutics’ promising position in the treatment landscape for hidradenitis suppurativa (HS). The company’s focus on developing sonelokimab, an IL-17 inhibitor, is particularly noteworthy given the current preference for IL-17 inhibitors over TNF-α inhibitors like Humira, which often lose efficacy quickly. The key opinion leader (KOL) insights suggest that there is a significant opportunity for sonelokimab, especially as it could potentially overcome the reimbursement challenges faced by other IL-17 inhibitors such as Cosentyx and Bimzelx.
Additionally, the KOL’s experience with a substantial number of HS patients and involvement in numerous Phase II and III studies indicates a strong understanding of the disease’s treatment dynamics. The analyst also considers the company’s financial position, noting that MoonLake has a cash runway of approximately 2.4 years, which supports its ongoing development efforts. These factors combined suggest a favorable outlook for MoonLake’s stock, justifying the Buy rating.
In another report released yesterday, Guggenheim also maintained a Buy rating on the stock with a $80.00 price target.