H.C. Wainwright analyst Matthew Caufield has reiterated their bullish stance on MLYS stock, giving a Buy rating on March 7.
Matthew Caufield has given his Buy rating due to a combination of factors that highlight the promising potential of Mineralys Therapeutics, Inc.’s lead product, lorundrostat. The drug, an oral selective aldosterone synthase inhibitor, has shown significant efficacy in managing blood pressure in patients with uncontrolled or resistant hypertension. The positive outcomes from the pivotal Advance-HTN and Launch-HTN trials, which demonstrated substantial placebo-adjusted reductions in blood pressure, underpin this optimistic outlook.
In the Advance-HTN trial, lorundrostat achieved a 7.9mmHg reduction in 24-hour ambulatory systolic blood pressure monitoring, while the Launch-HTN trial showed an 11.7mmHg reduction in automated office blood pressure. These results, coupled with a favorable safety and tolerability profile, support the potential for lorundrostat to become a valuable treatment option. The anticipation of full results being presented at a major scientific session further strengthens the confidence in the drug’s future prospects, justifying the Buy rating and a price target of $30.
In another report released on March 7, Goldman Sachs also maintained a Buy rating on the stock with a $24.00 price target.