Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Receives $43.50 Consensus Target Price from Analysts

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $43.50.

Several brokerages recently issued reports on MLYS. Bank of America upped their price target on shares of Mineralys Therapeutics from $38.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Wells Fargo & Company upped their price target on shares of Mineralys Therapeutics from $26.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. HC Wainwright reiterated a “buy” rating and set a $42.00 price target on shares of Mineralys Therapeutics in a research report on Monday, September 8th. Wall Street Zen upgraded shares of Mineralys Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd. Finally, Jefferies Financial Group upped their price target on shares of Mineralys Therapeutics from $15.00 to $26.00 and gave the stock a “hold” rating in a research report on Wednesday, September 3rd.

Mineralys Therapeutics Stock Performance

MLYS opened at $40.81 on Friday. The firm’s 50-day simple moving average is $33.08 and its 200-day simple moving average is $20.78. Mineralys Therapeutics has a twelve month low of $8.24 and a twelve month high of $44.80. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of -11.46 and a beta of 0.40.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Tuesday, August 12th. The company reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.12. As a group, sell-side analysts anticipate that Mineralys Therapeutics will post -4.23 EPS for the current fiscal year.

Insider Activity at Mineralys Therapeutics

In other Mineralys Therapeutics news, Director Srinivas Akkaraju bought 588,235 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were bought at an average cost of $25.50 per share, for a total transaction of $14,999,992.50. Following the transaction, the director owned 588,235 shares in the company, valued at approximately $14,999,992.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ra Capital Management, L.P. bought 1,176,470 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were acquired at an average price of $25.50 per share, for a total transaction of $29,999,985.00. Following the completion of the transaction, the director owned 5,456,521 shares in the company, valued at approximately $139,141,285.50. This trade represents a 27.49% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 132,637 shares of company stock worth $3,175,946. 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 business. SBI Securities Co. Ltd. lifted its position in Mineralys Therapeutics by 297.5% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company’s stock valued at $25,000 after purchasing an additional 1,190 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Mineralys Therapeutics by 51.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,518 shares of the company’s stock valued at $34,000 after acquiring an additional 850 shares during the period. Ameritas Investment Partners Inc. raised its position in shares of Mineralys Therapeutics by 42.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,995 shares of the company’s stock valued at $54,000 after acquiring an additional 1,197 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Mineralys Therapeutics in the 2nd quarter valued at approximately $91,000. Finally, Quarry LP acquired a new stake in shares of Mineralys Therapeutics in the 1st quarter valued at approximately $111,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.