Mineralys Therapeutics, Inc. (MLYS) PT Raised to $26 at Jefferies

Jefferies analyst Dennis Ding raised the price target on Mineralys Therapeutics, Inc. (NASDAQ: MLYS) to $26.00 (from $15.00) while maintaining a Hold rating.

The analyst comments "MLYS is trading +80% and much higher than our +20-25% estimate after competitor AZN reported numerically inferior efficacy for baxdrostat at ESC (here). Although we still argue efficacy looks similar for docs, this was a good derisking event for MLYS and improves visibility on the competitive dynamics. We raise our PT to $26 but stay at Hold – the stock seems reasonably priced, and we don't see major fundamental catalysts from here outside of BD."

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