Analysts Set Mineralys Therapeutics, Inc. (NASDAQ:MLYS) PT at $43.50

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) have been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and five have assigned 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 a number of research reports. Jefferies Financial Group raised their price objective on Mineralys Therapeutics from $15.00 to $26.00 and gave the company a “hold” rating in a report on Wednesday, September 3rd. HC Wainwright reissued a “buy” rating and set a $42.00 price objective on shares of Mineralys Therapeutics in a report on Monday, September 8th. Bank of America raised their price objective on Mineralys Therapeutics from $38.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Wells Fargo & Company raised their price objective on Mineralys Therapeutics from $26.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Finally, The Goldman Sachs Group raised their price objective on Mineralys Therapeutics from $32.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, September 9th.

Insiders Place Their Bets

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 11,367 shares of Mineralys Therapeutics stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $36.00, for a total value of $409,212.00. Following the transaction, the insider directly owned 81,524 shares of the company’s stock, valued at $2,934,864. The trade was a 12.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Srinivas Akkaraju purchased 588,235 shares of the firm’s stock in a transaction on Thursday, September 4th. The stock was bought at an average cost of $25.50 per share, for a total transaction of $14,999,992.50. Following the completion of the purchase, the director directly owned 588,235 shares in the company, valued at approximately $14,999,992.50. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 134,418 shares of company stock worth $2,185,474. 25.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mineralys Therapeutics

Large investors have recently bought and sold shares of the stock. Wellington Management Group LLP increased its stake in Mineralys Therapeutics by 32.8% in the 1st quarter. Wellington Management Group LLP now owns 121,557 shares of the company’s stock worth $1,930,000 after purchasing an additional 30,028 shares during the period. GAMMA Investing LLC increased its stake in Mineralys Therapeutics by 9,602.2% in the 1st quarter. GAMMA Investing LLC now owns 8,829 shares of the company’s stock worth $140,000 after purchasing an additional 8,738 shares during the period. BNP Paribas Financial Markets purchased a new position in Mineralys Therapeutics in the 4th quarter worth approximately $48,000. Bank of America Corp DE increased its stake in shares of Mineralys Therapeutics by 12.0% during the fourth quarter. Bank of America Corp DE now owns 107,703 shares of the company’s stock valued at $1,326,000 after buying an additional 11,549 shares during the period. Finally, ProShare Advisors LLC purchased a new position in shares of Mineralys Therapeutics during the fourth quarter valued at approximately $128,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Mineralys Therapeutics Trading Up 3.2%

Shares of MLYS opened at $38.87 on Monday. The company has a market cap of $2.58 billion, a PE ratio of -10.92 and a beta of -0.29. The stock has a 50-day moving average price of $21.73 and a 200-day moving average price of $17.03. Mineralys Therapeutics has a 12-month low of $8.24 and a 12-month high of $40.33.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.66) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.12. As a group, analysts predict that Mineralys Therapeutics will post -4.23 earnings per share for the current year.

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.