Analyst Serge Belanger of Needham maintained a Buy rating on MoonLake Immunotherapeutics (MLTX – Research Report), boosting the price target to $66.00.
Serge Belanger has given his Buy rating due to a combination of factors surrounding MoonLake Immunotherapeutics. The company is entering a significant phase with the anticipated mid-2025 results from their Phase 3 trials, VELA-1 and VELA-2, which are assessing SLK in adult patients with HS. This period is expected to be data-rich, providing crucial insights into the efficacy of their treatments.
Additionally, MoonLake Immunotherapeutics ended 2024 with a strong cash position of approximately $448 million, which is projected to support all planned clinical trials and extend their financial runway into late 2026. The analyst also adjusted the price target to $66, reflecting an updated model and valuation for 2025. The expected data outcomes and the robust market performance of Bimekizumab in various conditions are seen as key factors validating SLK and driving value for the company.
Belanger covers the Healthcare sector, focusing on stocks such as Revance Therapeutics, Trevi Therapeutics, and BioCryst. According to TipRanks, Belanger has an average return of 0.4% and a 40.64% 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.