MoonLake Immunotherapeutics Faces Downgrade but Shows Promising FDA Feedback

Font: Financial Modeling Prep  • Jan 15, 2026

• Goldman Sachs downgraded NASDAQ:MLTX to "Sell" with a price target of $10, indicating a potential decrease of approximately -42.56%.
• MoonLake Immunotherapeutics received positive feedback from the FDA for its lead product, Sonelokimab (SLK), for treating Hidradenitis Suppurativa (HS).
• The company plans to submit a Biologic License Application (BLA) for SLK in HS in the second half of 2026, potentially expediting the approval process.

MoonLake Immunotherapeutics, trading on NASDAQ under the symbol MLTX, is a clinical-stage biotechnology company focusing on developing innovative therapies for inflammatory diseases. Recently, Goldman Sachs downgraded MLTX to "Sell" from "Neutral," setting a price target of $10. At the time, MLTX was priced at $17.41, indicating a significant price difference of approximately -42.56%.

Despite the downgrade, MoonLake has made significant progress with its lead product, Sonelokimab (SLK). The company announced a positive outcome from a Type B meeting with the FDA. This meeting provided regulatory clarity for the submission of a Biologic License Application (BLA) for SLK in treating Hidradenitis Suppurativa (HS). The FDA confirmed that MoonLake could use existing trial data to establish SLK's effectiveness.

The FDA's feedback allows MoonLake to proceed with the BLA submission for SLK in HS in the second half of 2026. This development is crucial for the company as it can potentially expedite the approval process. MoonLake plans to discuss this feedback and other opportunities for SLK during an Investor Day on February 23, 2026.

Currently, MLTX is priced at $17.41, with a recent increase of $0.31, or approximately 1.81%. The stock has fluctuated between $17.02 and $17.91 today. Over the past year, MLTX has seen a high of $62.75 and a low of $5.95. The company's market capitalization is around $1.1 billion, with a trading volume of 1,892,708 shares.