Mineralys Therapeutics (NASDAQ:MLYS) Price Target Raised to $52.00 at The Goldman Sachs Group

Mineralys Therapeutics (NASDAQ:MLYS) had its target price increased by The Goldman Sachs Group from $32.00 to $52.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts also recently weighed in on the company. Wall Street Zen upgraded Mineralys Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, August 22nd. Bank of America raised their target price on Mineralys Therapeutics from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Jefferies Financial Group raised their target price on Mineralys Therapeutics from $15.00 to $26.00 and gave the stock a “hold” rating in a research note on Wednesday, September 3rd. HC Wainwright restated a “buy” rating and issued a $42.00 target price on shares of Mineralys Therapeutics in a research note on Monday. Finally, Guggenheim set a $48.00 target price on Mineralys Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Mineralys Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $42.20.

Mineralys Therapeutics Price Performance

Shares of NASDAQ:MLYS opened at $38.50 on Tuesday. The company has a market capitalization of $2.55 billion, a PE ratio of -10.81 and a beta of -0.29. The business has a fifty day moving average price of $16.53 and a two-hundred day moving average price of $14.92. Mineralys Therapeutics has a 1 year low of $8.24 and a 1 year high of $38.54.

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, beating analysts’ consensus estimates of ($0.78) by $0.12. Sell-side analysts anticipate that Mineralys Therapeutics will post -4.23 earnings per share for the current year.

Insider Transactions at Mineralys Therapeutics

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 11,365 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $12.93, for a total value of $146,949.45. Following the sale, the insider owned 92,891 shares of the company’s stock, valued at $1,201,080.63. This trade represents a 10.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jon Congleton sold 15,884 shares of the firm’s stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $14.51, for a total value of $230,476.84. Following the completion of the sale, the chief executive officer directly owned 846,405 shares in the company, valued at approximately $12,281,336.55. The trade was a 1.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 123,051 shares of company stock worth $1,776,262. 33.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Mineralys Therapeutics

Large investors have recently modified their holdings of the company. RA Capital Management L.P. lifted its position in Mineralys Therapeutics by 26.7% in the first quarter. RA Capital Management L.P. now owns 6,147,280 shares of the company’s stock valued at $97,619,000 after purchasing an additional 1,296,296 shares during the last quarter. SR One Capital Management LP lifted its position in Mineralys Therapeutics by 55.1% in the first quarter. SR One Capital Management LP now owns 3,127,933 shares of the company’s stock valued at $49,672,000 after purchasing an additional 1,111,111 shares during the last quarter. Millennium Management LLC lifted its position in Mineralys Therapeutics by 1,015.8% in the fourth quarter. Millennium Management LLC now owns 1,101,674 shares of the company’s stock valued at $13,562,000 after purchasing an additional 1,002,941 shares during the last quarter. Jennison Associates LLC lifted its position in Mineralys Therapeutics by 82.9% in the first quarter. Jennison Associates LLC now owns 1,979,033 shares of the company’s stock valued at $31,427,000 after purchasing an additional 897,027 shares during the last quarter. Finally, Orbimed Advisors LLC bought a new stake in Mineralys Therapeutics in the second quarter valued at approximately $10,288,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

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.