Analyst Matthew Caufield of H.C. Wainwright reiterated a Buy rating on Mineralys Therapeutics, Inc. (MLYS – Research Report), with a price target of $30.00.
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Matthew Caufield has given his Buy rating due to a combination of factors influencing the potential success of Mineralys Therapeutics, Inc. One key element is the promising development of lorundrostat, an oral drug designed to target uncontrolled and resistant hypertension by inhibiting aldosterone synthase. The drug has shown significant blood pressure reduction in clinical trials, especially among obese patients, and is well-tolerated, enhancing its differentiation in the market.
Additionally, Caufield highlights the upcoming pivotal trial results expected in 2025 as potential catalysts that could validate lorundrostat’s efficacy, potentially lowering the risks for subsequent trials. The drug’s application is also being explored in chronic kidney disease and obstructive sleep apnea, potentially widening its market reach. With a significant portion of the population affected by these conditions, lorundrostat could represent a critical therapeutic advancement, justifying the Buy rating and a price target of $30.
Caufield covers the Healthcare sector, focusing on stocks such as 4D Molecular Therapeutics, Eyenovia, and Opus Genetics. According to TipRanks, Caufield has an average return of -9.9% and a 33.83% success rate on recommended stocks.
In another report released yesterday, LifeSci Capital also maintained a Buy rating on the stock with a $33.00 price target.