Analyst Rami Katkhuda of LifeSci Capital maintained a Buy rating on Mineralys Therapeutics, Inc. (MLYS – Research Report), retaining the price target of $44.00.
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Rami Katkhuda’s rating is based on Mineralys Therapeutics, Inc.’s strong financial position and promising clinical trial results. The company reported substantial cash reserves of $343.0 million, which are projected to support operations until 2027, providing a stable financial foundation.
Additionally, the clinical trials for lorundrostat, an aldosterone synthase inhibitor, have shown significant efficacy in reducing systolic blood pressure in patients with uncontrolled and resistant hypertension. The trials demonstrated both a substantial placebo-adjusted reduction in blood pressure and a favorable safety profile, with low rates of serious adverse events and discontinuations. These positive outcomes, coupled with the acceptance of trial results for presentation at a major hypertension conference, underscore the potential of Mineralys’s therapeutic offerings, supporting the Buy rating.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $42.00 price target.