MoonLake Immunotherapeutics initiated with an Outperform at Oppenheimer

Oppenheimer initiated coverage of MoonLake Immunotherapeutics with an Outperform rating and $104 price target. MoonLake’s sonelokimab has “distinguished itself as a best-in-class IL-17A/F inhibitor” with “impressive” safety and efficacy results across three Phase 2 studies in psoriasis, hidradenitis suppurativa and psoriatic arthritis, the analyst tells investors. The company’s strategic value as a “pipeline-in-a-product” continues to increase as it advances into pivotal trials in hidradenitis suppurativa and psoriatic arthritis, the analyst tells investors.