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

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $43.50.

Several equities analysts have recently commented on MLYS shares. The Goldman Sachs Group upped their price target on Mineralys Therapeutics from $32.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, September 9th. Bank of America increased 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 increased 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. Wells Fargo & Company increased their target price on Mineralys Therapeutics from $26.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Wednesday, October 8th.

Insider Activity

In related news, CFO Adam Scott Levy sold 59,925 shares of the stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $14.76, for a total transaction of $884,493.00. Following the transaction, the chief financial officer owned 132,934 shares of the company’s stock, valued at approximately $1,962,105.84. This represents a 31.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ra Capital Management, L.P. bought 1,176,470 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The shares were purchased at an average cost of $25.50 per share, for a total transaction of $29,999,985.00. Following the purchase, the director owned 5,456,521 shares in the company, valued at $139,141,285.50. This represents a 27.49% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 132,637 shares of company stock worth $3,175,946 in the last quarter. Insiders own 33.24% of the company’s stock.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of hedge funds have recently bought and sold shares of MLYS. SBI Securities Co. Ltd. raised its position in Mineralys Therapeutics by 297.5% in 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. raised 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 valued at $34,000 after purchasing an additional 850 shares in the last quarter. Ameritas Investment Partners Inc. raised its position 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 in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Mineralys Therapeutics in the 2nd quarter valued at about $91,000. Finally, Quarry LP purchased a new position in shares of Mineralys Therapeutics in the 1st quarter valued at about $111,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Mineralys Therapeutics Stock Performance

NASDAQ MLYS opened at $43.37 on Friday. The stock’s fifty day moving average is $31.98 and its two-hundred day moving average is $20.44. The firm has a market capitalization of $2.87 billion, a P/E ratio of -12.18 and a beta of 0.40. Mineralys Therapeutics has a fifty-two week low of $8.24 and a fifty-two week high of $44.80.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings data 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, sell-side analysts forecast that Mineralys Therapeutics will post -4.23 EPS 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.