Citi downgraded MoonLake Immunotherapeutics (MLTX) to Sell from Neutral with an unchanged price target of $5. The shares have rallied from the lows post the disappointing hidradenitis suppurativa but Citi is still cautious on the approvability and commercial competitiveness for sonelokima, the analyst tells investors in a research note. The firm also believes MoonLake has a financing overhang.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MLTX:
- Moonlake Immunotherapeutics Advances Psoriatic Arthritis Treatment with Sonelokimab Study
- MoonLake Immunotherapeutics Advances with Promising Sonelokimab Study in Adolescents
- Moonlake Immunotherapeutics Advances in Hidradenitis Suppurativa Treatment with Sonelokimab Study
- MoonLake’s Promising Phase 3 Study on Sonelokimab for Psoriatic Arthritis
- MoonLake Faces Legal Storm Over SLK Drug Claims