MoonLake Immunotherapeutics (MLTX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Rami Katkhuda from LifeSci Capital maintained a Buy rating on the stock and has a $75.00 price target.
Rami Katkhuda has given his Buy rating due to a combination of factors including MoonLake Immunotherapeutics’ strong financial position and promising clinical developments. The company reported a solid cash reserve of $448.0 million, which is expected to support its operations until at least the end of 2026, providing a stable financial foundation.
Additionally, MoonLake’s ongoing Phase II and III studies, particularly the Phase III VELA program, are key drivers for the stock’s potential growth. The VELA program is on track for a pivotal readout in mid-2025, and its design closely mirrors the successful Phase II MIRA study, reducing the risk associated with the trial. Experts believe that the efficacy of sonelokimab, demonstrated in previous studies, positions it as a leading treatment option for hidradenitis suppurativa, a market projected to grow significantly by 2035.
Katkhuda covers the Healthcare sector, focusing on stocks such as Viridian Therapeutics, VYNE Therapeutics, and Disc Medicine. According to TipRanks, Katkhuda has an average return of 22.8% and a 41.22% success rate on recommended stocks.
In another report released today, Wedbush also reiterated a Buy rating on the stock with a $78.00 price target.