Mineralys Therapeutics, Inc. (MLYS – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Mohit Bansal from Wells Fargo maintained a Buy rating on the stock and has a $26.00 price target.
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Mohit Bansal’s rating is based on the promising data from the Explore-CKD trial for Mineralys Therapeutics, Inc.’s drug, Lorundrostat. The trial demonstrated significant efficacy in treating hypertension among patients with lower kidney function, showing a notable reduction in blood pressure and improvement in kidney function markers. The trial’s success in using a lower dose of the drug without significant discontinuations strengthens the potential for a broader hypertension label.
Additionally, the manageable side effects observed, such as hyperkalemia, are considered addressable with proper monitoring. These positive outcomes enhance the attractiveness of MLYS to large pharmaceutical companies, given the substantial market opportunity in chronic kidney disease and hypertension. The combination of low development risk and the potential for blockbuster revenue makes MLYS an appealing investment, justifying the Buy rating.
Bansal covers the Healthcare sector, focusing on stocks such as Regeneron, Gilead Sciences, and Pfizer. According to TipRanks, Bansal has an average return of 2.4% and a 49.68% success rate on recommended stocks.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $42.00 price target.