Moonlake Immunotherapeutics (MLTX) PT Raised to $40 at H.C. Wainwright

H.C. Wainwright analyst Raghuram Selvaraju raised the price target on Moonlake Immunotherapeutics (NASDAQ: MLTX) to $40.00 (from $32.00) while maintaining a Buy rating.

The analyst commented: "In a recent press release and Investor Day, MoonLake Immunotherapeutics reported top-line results from the S-OLARIS Phase 2 trial of sonelokimab (SLK) in patients with radiographic and non-radiographic axial spondyloarthritis (axSpA). In the Phase 2 S-OLARIS trial in axSpA, SLK displayed clinically meaningful and statistically significant benefit. A total of 81% of patients treated with SLK (n=26, mNRI), achieved an Assessment of Spondyloarthritis International Society 40 (ASAS40) response at Week 12. ASAS40 measures an improvement of at least 40% and an absolute improvement of ≥2 units on a 0-10 numerical rating scale from baseline in at least three of the four key domains (Patient Global Assessment of disease activity, total back pain, physical function, inflammation), with no worsening in the remaining domain. This has been the primary endpoint for the latest approved therapies. We reiterate our Buy rating, while raising our 12-month price target to $40 from the prior $32 per share. This reflects the addition of axSpA forecasts to our valuation with a 40% probability of approval."

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Jane Street Took $15 Billion Hit In July Tied To Situational Awareness - Reuters
• Intuitive Machines Inc. (LUNR) PT Lowered to $32 at Cantor Fitzgerald, Reaffirms Overweight Rating