MoonLake Immunotherapeutics (MLTX), a company in the Healthcare sector, has been revisited by Wall Street analyst Serge Belanger from Needham, who maintained a Buy rating on the stock with a $62.00 price target. This rating is attributed to the company's strategic expansion of its clinical programs and an upcoming data-rich period expected to start in mid-2025. MoonLake has initiated several significant clinical trials, including phase 3 programs for hidradenitis suppurativa (HS) and psoriatic arthritis (PsA), along with new trials for adolescent HS, palmoplantar pustulosis, and axial spondyloarthritis.
MoonLake's substantial cash reserve of approximately $494 million is projected to support all planned clinical trials and extend its financial runway into late 2026. The anticipation around the key data readouts, especially the phase 3 HS trial results due around mid-2025, positions the company for potential transformational growth. This underpins the Buy rating with a price target of $62.
Serge Belanger, a 3-star analyst with an average return of 0.9% and a 42.35% success rate, covers the Healthcare sector, focusing on stocks such as Viridian Therapeutics, NewAmsterdam Pharma Company, and Cytokinetics. In another report released today, Wedbush also maintained a Buy rating on the stock with a $73.00 price target.
