10 Oversold Biotech Stocks to Buy Now

2. MoonLake Immunotherapeutics (NASDAQ:MLTX)

Relative Strength Index (RSI): 39.80

MoonLake Immunotherapeutics (NASDAQ:MLTX), formerly Helix Acquisition Corp, is a clinical-stage biopharmaceutical business based in Switzerland that creates medications for immunologic conditions, such as inflammatory skin and joint disorders.

MoonLake Immunotherapeutics (NASDAQ:MLTX) develops the tri-specific nanobody Sonelokimab (SLK), a chemical that targets and penetrates difficult-to-reach inflammatory regions. It has improved enrichment in deep skin and joints.

The corporation had $493.9 million in cash, cash equivalents, and short-term marketable debt securities after the third fiscal quarter of 2024. Up until the end of 2026, management anticipates it to provide a financial runway and a roadmap full of possible catalysts. Sonelokimab, a pipeline-in-a-product that may be worth over $8 billion in sales by 2035 across the company’s targeted indications, is the reason analysts are optimistic about the company’s prospects.

As it gets ready for regulatory filings and other pre-commercial activities, MoonLake Immunotherapeutics (NASDAQ:MLTX) is investing in this growth prospect and extensive clinical development projects. An 84.36% increase from present levels is implied by its current price target of $42.83. On January 17, Goldman Sachs analyst Richard Law, CFA, raised the stock’s recommendation to a Buy and set a price target of $82.00.