Analyst Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on MoonLake Immunotherapeutics (MLTX – Research Report) and keeping the price target at $100.00.
Ram Selvaraju has given his Buy rating due to a combination of factors, primarily focusing on the potential of MoonLake Immunotherapeutics’ lead candidate, sonelokimab (SLK), in the treatment of hidradenitis suppurativa (HS). The upcoming release of top-line data from the Phase 3 VELA program in mid-2025 is anticipated to position SLK as a best-in-class therapy for HS, which could significantly enhance the company’s market position.
Additionally, MoonLake’s strong financial position, with cash reserves expected to sustain operations through at least the end of 2026, supports the company’s ongoing research and development efforts. The substantial increase in R&D spending, particularly for the VELA and IZAR programs, indicates a robust pipeline that could drive future growth. These factors, combined with the company’s strategic financial management, underpin Selvaraju’s confidence in MoonLake’s potential, justifying the Buy rating and a 12-month price target of $100 per share.
In another report released yesterday, Needham also maintained a Buy rating on the stock with a $66.00 price target.