Leerink Partners Maintains Buy Rating on MoonLake Immunotherapeutics with $73 Price Target

Leerink Partners analyst Thomas Smith maintains a Buy rating on MoonLake Immunotherapeutics with a price target of $73.00. Smith covers the Healthcare sector and has an average return of 44.0% and a 53.39% success rate on recommended stocks. The company reported a quarterly GAAP net loss of $40.25 million for the quarter ending March 31. Corporate insider sentiment is negative, with an increase in insiders selling their shares over the past quarter.

MoonLake Immunotherapeutics (NASDAQ: MLTX) reported its Q2 2025 financial results, highlighting significant progress in its clinical programs and strategic partnerships. The company ended the quarter with $425.1 million in cash and secured up to $500 million in non-dilutive financing from Hercules Capital, extending its cash runway into 2028 [1].

Key financial metrics include Research & Development (R&D) expenses of $49.8 million, up $13.3 million from the previous quarter, and General & Administrative (G&A) expenses of $10.9 million. The company's Phase 3 VELA program in hidradenitis suppurativa (HS) is progressing toward primary endpoint readout around September 2025, with a Biologics License Application (BLA) submission expected mid-2026 [1].

MoonLake is also advancing multiple clinical trials for sonelokimab in various indications, including PPP, axSpA, PsA, and adolescent HS, with significant readouts expected through 2026. The company anticipates a product launch in 2027 [1].

Leerink Partners analyst Thomas Smith maintains a Buy rating on MoonLake Immunotherapeutics with a price target of $73.00. Smith covers the Healthcare sector and has an average return of 44.0% and a 53.39% success rate on recommended stocks [2]. Despite the quarterly GAAP net loss of $40.25 million for the quarter ending March 31, the company's strong financial position and robust pipeline of clinical trials suggest promising growth prospects [1].

Corporate insider sentiment is negative, with an increase in insiders selling their shares over the past quarter. However, the company's strategic partnerships and clinical advancements may mitigate this sentiment in the long run [2].

MoonLake's ongoing efforts to expand its portfolio of indications for sonelokimab and its progress in the Phase 3 VELA program in HS position the company as a leader in the autoimmune therapeutics space. Investors should closely monitor the company's clinical trial results and strategic updates to assess its potential for growth and profitability.

References:
[1] https://www.stocktitan.net/news/MLTX/
[2] https://www.leerink.com/research/moonlake-immunotherapeutics-inc-mltx-44446700