H.C. Wainwright Maintains Buy Rating on MoonLake Immunotherapeutics (MLXT), Keeps PT

On May 27, Analyst Ram Selvaraju of H.C. Wainwright reiterated a Buy rating on MoonLake Immunotherapeutics (NASDAQ:MLTX) while keeping the price target unchanged at $100.

The reiteration is based on the company’s Sonelokimab candidate, which is currently in Phase 3 with topline data release anticipated soon.

H.C. Wainwright Reiterated a Buy Rating on MoonLake (MLXT)

A close-up of a biopharmaceutical research laboratory, with a microscope in the foreground.

Selvaraju highlighted the upcoming release of top-line data from the Phase 3 VELA program for Sonelokimab as a major catalyst for the company. The company reported rapid enrollment in this trial, which was faster than industry norms. The analyst believes the company has a huge market opportunity for Sonelokimab, estimating it could address a $10 billion to $15 billion market.

While mentioning the financials, Selvaraju noted MoonLake Immunotherapeutics (NASDAQ:MLTX) had reserves of about $480 million as of early 2025 and also secured a term loan facility of up to $500 million giving runway till 2028 without immediate equity dilution.

MoonLake Immunotherapeutics (NASDAQ:MLTX) is a clinical-stage biopharmaceutical company specializing in the development of medicines for immunologic diseases. Sonelokimab is its key candidate for treating diseases caused by immune system dysfunction, such as inflammatory skin diseases and joint diseases.

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Disclosure: None.