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Investing.com - H.C. Wainwright has reiterated its Buy rating and $42.00 price target on Mineralys Therapeutics, Inc. (NASDAQ:MLYS), highlighting the potential of its oral aldosterone synthase inhibitor (ASI) candidate lorundrostat. According to InvestingPro data, analysts maintain a strong buy consensus with price targets ranging from $26 to $48, while the stock trades near its 52-week high of $35.09.
The research firm believes lorundrostat demonstrates a superior hypertension profile compared to AstraZeneca’s baxdrostat, which recently met primary and secondary endpoints in its Phase 3 BaxHTN trial for uncontrolled or treatment resistant hypertension, as published in the New England Journal of Medicine in August 2025.
H.C. Wainwright noted that Mineralys presented subgroup analyses from its successful Phase 3 Launch-HTN trial, showing significant blood pressure reductions across patient subgroups, particularly among those with increased risk for poor cardiovascular outcomes.
Mineralys recently closed an upsized $287.5 million underwritten public offering of common stock, which included the full exercise of underwriters’ option to purchase additional shares. This financing adds to the company’s reported $324.9 million in cash and equivalents through the second quarter of 2025. InvestingPro analysis reveals the company maintains a strong current ratio of 15.12, with liquid assets well exceeding short-term obligations. Get access to 15+ additional ProTips and comprehensive financial metrics with InvestingPro.
The funds will support pre-commercialization activities for lorundrostat in hypertension following successful pivotal trials, as well as ongoing clinical development in chronic kidney disease and obstructive sleep apnea, with a pre-NDA meeting with the FDA scheduled for the fourth quarter of 2025. The company’s market capitalization currently stands at $2.65 billion, reflecting investor confidence in its development pipeline.
In other recent news, Mineralys Therapeutics reported its second-quarter 2025 earnings, revealing a narrower-than-expected loss. The company posted an earnings per share (EPS) of -$0.66, outperforming the forecasted -$1.06. This positive earnings report has been a focal point for investors. Additionally, Mineralys completed a public offering, raising approximately $287.5 million in gross proceeds. The offering included the full exercise of the underwriters’ option to purchase additional shares. Jefferies has raised its price target for Mineralys Therapeutics to $26 from $15, maintaining a Hold rating on the stock. This adjustment comes after a significant increase in Mineralys’ stock price. Furthermore, Mineralys announced the commencement of a $175 million public stock offering, with plans to grant underwriters an option to purchase additional shares. These developments highlight Mineralys’ ongoing financial and strategic activities.
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