Mineralys Therapeutics (NASDAQ:MLYS) Given New $52.00 Price Target at HC Wainwright

Mineralys Therapeutics (NASDAQ:MLYS) had its price target raised by HC Wainwright from $42.00 to $52.00 in a research note published on Thursday, MarketBeat.com reports. HC Wainwright currently has a buy rating on the stock.

MLYS has been the topic of a number of other research reports. Jefferies Financial Group upped their price objective on Mineralys Therapeutics from $15.00 to $26.00 and gave the stock a “hold” rating in a research note on Wednesday, September 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Wednesday, October 8th. Bank of America raised their target price on shares of Mineralys Therapeutics from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Wells Fargo & Company raised their target price on shares of Mineralys Therapeutics from $26.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Finally, Wall Street Zen upgraded shares of Mineralys Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, August 22nd. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Mineralys Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $45.17.

Mineralys Therapeutics Price Performance

Shares of NASDAQ MLYS opened at $41.12 on Thursday. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of -11.55 and a beta of 0.40. The business has a 50-day moving average of $35.64 and a 200-day moving average of $21.82. Mineralys Therapeutics has a fifty-two week low of $8.24 and a fifty-two week high of $44.80.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.12. On average, sell-side analysts expect that Mineralys Therapeutics will post -4.23 EPS for the current year.

Insider Activity

In related news, Director Srinivas Akkaraju acquired 588,235 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was purchased at an average cost of $25.50 per share, for a total transaction of $14,999,992.50. Following the completion of the transaction, the director directly owned 588,235 shares of the company’s stock, valued at approximately $14,999,992.50. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jon Congleton sold 15,100 shares of the firm’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $42.67, for a total transaction of $644,317.00. Following the sale, the chief executive officer owned 831,305 shares of the company’s stock, valued at $35,471,784.35. This trade represents a 1.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 58,959 shares of company stock valued at $2,098,393. Company insiders own 25.56% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in Mineralys Therapeutics by 32.8% during the 1st quarter. Wellington Management Group LLP now owns 121,557 shares of the company’s stock worth $1,930,000 after buying an additional 30,028 shares during the period. Voya Investment Management LLC bought a new position in Mineralys Therapeutics during the 1st quarter worth $255,000. Strs Ohio acquired a new stake in shares of Mineralys Therapeutics in the first quarter valued at approximately $359,000. Goldman Sachs Group Inc. raised its position in shares of Mineralys Therapeutics by 166.6% in the first quarter. Goldman Sachs Group Inc. now owns 298,395 shares of the company’s stock valued at $4,739,000 after buying an additional 186,480 shares in the last quarter. Finally, Swedbank AB acquired a new stake in shares of Mineralys Therapeutics in the first quarter valued at approximately $5,204,000. Institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Company Profile

Mineralys Therapeutics, Inc, a clinical-stage biopharmaceutical company that develops therapies for the treatment of hypertension and chronic kidney diseases. It clinical-stage product candidate is lorundrostat, a proprietary, orally administered, highly selective aldosterone synthase inhibitor for the treatment of cardiorenal conditions affected by abnormally elevated aldosterone.