10 Best Guru Stocks To Buy Now

5. MoonLake Immunotherapeutics (NASDAQ:MLTX)

Number of Hedge Fund Holders In Q2 2024: 32

Average Analyst Share Price Target: $72.86

Average Analyst Share Price Target Upside: 43%

MoonLake Immunotherapeutics (NASDAQ:MLTX) is a pre commercial stage biotechnology company that is developing treatments for psoriasis. Its primary treatment that is currently in trials is the drug sonelokimab. This drug is aimed to treat inflammatory diseases, arthritis, psoriasis, and other ailments. Sonelokimab is currently in phase three trials, and since it’s the only late stage drug in its portfolio, MoonLake Immunotherapeutics (NASDAQ:MLTX)’s hypothesis hinges on the drug’s performance. It is currently targeting this drug to treat a skin disease called hidradenitis suppurativa (HS). Results for these trials are expected in the second half of 2025, meaning that there is quite a lot of time before MoonLake Immunotherapeutics (NASDAQ:MLTX) might deliver fireworks. Therefore, the firm’s cash reserves are key to ensure that it can maintain operations until then. As of Q2 2024, MoonLake Immunotherapeutics (NASDAQ:MLTX) had $342 million in cash and equivalents while its quarterly operating expense was $30.2 million. This provides the firm with a wide runway before it has to raise capital which can dilute valuation.