Matthew Caufield, an analyst from H.C. Wainwright, reiterated the Buy rating on Mineralys Therapeutics, Inc. (MLYS – Research Report). The associated price target remains the same with $42.00.
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Matthew Caufield has given his Buy rating due to a combination of factors related to the promising results from the Phase 2 Explore-CKD trial for Mineralys Therapeutics, Inc. The trial demonstrated that lorundrostat, when added to existing treatments, effectively reduced systolic blood pressure in patients with chronic kidney disease, achieving its primary endpoint. This outcome not only highlights the drug’s potential in treating hypertension but also suggests benefits for broader comorbid conditions involving aldosterone.
Furthermore, the trial results are consistent with previous successful trials, reinforcing the drug’s efficacy and safety profile. The observed reductions in systolic blood pressure and urine albumin-to-creatinine ratio are clinically meaningful, indicating potential renal protective effects. Despite some concerns about hyperkalemia, these are considered manageable, and the overall safety profile remains favorable. These positive findings support a robust NDA submission, with plans to engage with the FDA, underpinning the Buy rating and the $42 price target.
Based on the recent corporate insider activity of 34 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.