Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Stock Has Consensus Target Price of $48.80

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $48.80.

MLYS has been the subject of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Friday, July 17th. Zacks Research upgraded Mineralys Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Friday, September 11th. Finally, Wall Street Zen downgraded shares of Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th.

Insider Activity

In other news, insider David Rodman sold 2,170 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $27.09, for a total value of $58,785.30. Following the transaction, the insider directly owned 51,384 shares of the company’s stock, valued at $1,391,992.56. The trade was a 4.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brian Slingsby sold 104,320 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $28.81, for a total value of $3,005,459.20. Following the sale, the director owned 7,805,718 shares in the company, valued at approximately $224,882,735.58. This trade represents a 1.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 208,974 shares of company stock valued at $5,727,495. Corporate insiders own 18.94% of the company’s stock.

Institutional Trading of Mineralys Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in MLYS. BlackRock Inc. acquired a new position in Mineralys Therapeutics during the second quarter valued at approximately $158,832,000. Bank of America Corp DE acquired a new stake in Mineralys Therapeutics in the second quarter worth $40,620,000. Orbimed Advisors LLC boosted its position in shares of Mineralys Therapeutics by 109.4% during the first quarter. Orbimed Advisors LLC now owns 2,052,900 shares of the company’s stock worth $55,613,000 after purchasing an additional 1,072,500 shares in the last quarter. Nantahala Capital Management LLC bought a new position in shares of Mineralys Therapeutics during the second quarter worth $22,136,577. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new position in shares of Mineralys Therapeutics in the 4th quarter valued at $23,918,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Mineralys Therapeutics Stock Down 5.8%

MLYS opened at $21.95 on Friday. The company has a market capitalization of $1.94 billion, a P/E ratio of -5.18 and a beta of 0.69. The company has a debt-to-equity ratio of 0.18, a current ratio of 34.46 and a quick ratio of 34.46. The firm’s fifty day moving average price is $26.71 and its two-hundred day moving average price is $26.98. Mineralys Therapeutics has a fifty-two week low of $21.88 and a fifty-two week high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($2.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($2.30). On average, analysts anticipate that Mineralys Therapeutics will post -4.45 EPS for the current year.

Mineralys Therapeutics Company Profile

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for hypertension and other cardiovascular and kidney-related conditions associated with excess aldosterone activity. The company is headquartered in Radnor, Pennsylvania.

Mineralys’ lead product candidate is lorundrostat, an oral, highly selective aldosterone synthase inhibitor designed to reduce the production of aldosterone. The company is evaluating lorundrostat as a potential treatment for uncontrolled or resistant hypertension, including hypertension linked to abnormal activation of the renin-angiotensin-aldosterone system.

Mineralys was established to advance therapies targeting aldosterone-driven disease and became a publicly traded company on the Nasdaq exchange in 2023.