In a report released on February 27, Thomas Smith from Leerink Partners maintained a Buy rating on MoonLake Immunotherapeutics (MLTX – Research Report), with a price target of $73.00.
Thomas Smith’s rating is based on several promising developments at MoonLake Immunotherapeutics. The company has reaffirmed its development plans for its lead asset, sonelokimab, which is being tested across multiple immuno-inflammatory diseases. Notably, the Phase 3 VELA program for hidradenitis suppurativa is on track, with topline data expected by mid-2025. Smith highlights the potential for sonelokimab to achieve a clinically meaningful response rate, making it competitive among other IL-17 inhibitors.
Additionally, MoonLake’s ongoing and upcoming trials in psoriatic arthritis, palmoplantar pustulosis, and axial spondyloarthritis present further opportunities to enhance the value of sonelokimab. The company is also set to host a Capital Markets Day in the second quarter of 2025, which could provide further insights into their progress. Overall, Smith remains optimistic about MoonLake’s clinical execution and the potential market opportunities, particularly in the hidradenitis suppurativa space, which could significantly boost the company’s prospects.
In another report released on February 27, Goldman Sachs also maintained a Buy rating on the stock with a $73.00 price target.