MoonLake Immunotherapeutics assumed with an Outperform at Wedbush

Wedbush analyst Yun Zhong assumed coverage of MoonLake Immunotherapeutics (MLTX) with an Outperform rating and price target of $73, down from $92. The company’s single asset sonelokimab is an IL-17 inhibitor “with unique features that support strong differentiation,” the analyst tells investors in a research note. The firm sees “strong potential” for sonelokimab in a multi -billion market that continues to expand.