On Tuesday, H.C. Wainwright reaffirmed its Buy rating and $100.00 price target for Moonlake Immunotherapeutics (NASDAQ: MLTX ) shares. According to InvestingPro data, analysts maintain a strong bullish consensus on MLTX, with price targets ranging from $65 to $104. The company, currently valued at $2.47 billion, holds more cash than debt on its balance sheet, demonstrating solid financial positioning. The firm's analyst highlighted the company's promising outlook based on recent developments, particularly the anticipated release of top-line data from its Phase 3 VELA program. This data, expected in September, pertains to the company's lead candidate, sonelokimab (SLK), for the treatment of hidradenitis suppurativa (HS), a chronic skin condition. Earlier this month, Moonlake Immunotherapeutics announced its financial results for the first quarter of 2025.