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

Key Points

• Mineralys Therapeutics has received a consensus rating of "Moderate Buy" from six research firms, with five analysts giving it a buy recommendation.
• Recent target price increases for the stock include Wells Fargo raising it to $50.00 and Goldman Sachs to $52.00, reflecting strong analyst support.
• The company's shares have experienced volatility, with a 12-month range of $8.24 to $40.33 amid a market cap of $2.60 billion.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) has earned a consensus rating of "Moderate Buy" from the six analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $43.50.

MLYS has been the topic of several recent research reports. Jefferies Financial Group lifted their price objective on shares of Mineralys Therapeutics from $15.00 to $26.00 and gave the company a "hold" rating in a research report on Wednesday, September 3rd. Wells Fargo & Company boosted their price target on shares of Mineralys Therapeutics from $26.00 to $50.00 and gave the company an "overweight" rating in a report on Thursday, September 11th. HC Wainwright restated a "buy" rating and issued a $42.00 price objective on shares of Mineralys Therapeutics in a report on Monday, September 8th. The Goldman Sachs Group upped their target price on Mineralys Therapeutics from $32.00 to $52.00 and gave the stock a "buy" rating in a report on Tuesday, September 9th. Finally, Wall Street Zen raised shares of Mineralys Therapeutics from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd.

Mineralys Therapeutics Price Performance

Shares of NASDAQ:MLYS traded down $0.49 during trading hours on Monday, hitting $38.78. 898,311 shares of the company's stock traded hands, compared to its average volume of 2,767,629. The firm has a market capitalization of $2.57 billion, a P/E ratio of -10.89 and a beta of -0.29. The business has a fifty day moving average price of $20.78 and a 200-day moving average price of $16.73. Mineralys Therapeutics has a 1 year low of $8.24 and a 1 year high of $40.33.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.66) earnings per share for the quarter, topping analysts' consensus estimates of ($0.78) by $0.12. As a group, equities analysts predict that Mineralys Therapeutics will post -4.23 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Ra Capital Management, L.P. acquired 1,176,470 shares of Mineralys Therapeutics stock in a transaction that occurred on Thursday, September 4th. The stock was bought 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 $139,141,285.50. The trade was a 27.49% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jon Congleton sold 15,884 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $14.51, for a total value of $230,476.84. Following the transaction, the chief executive officer directly owned 846,405 shares of the company's stock, valued at approximately $12,281,336.55. The trade was a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,418 shares of company stock worth $2,185,474 over the last quarter. Insiders own 33.24% of the company's stock.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of large investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. raised its stake in Mineralys Therapeutics by 297.5% in the first quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company's stock valued at $25,000 after buying an additional 1,190 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in 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 worth $34,000 after purchasing an additional 850 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in Mineralys Therapeutics in the 4th quarter worth approximately $48,000. Ameritas Investment Partners Inc. boosted its holdings in 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 purchasing an additional 1,197 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Mineralys Therapeutics in the second quarter worth about $91,000. Institutional investors and hedge funds own 84.46% of the company's stock.

About Mineralys Therapeutics

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.