MoonLake Immunotherapeutics (NASDAQ:MLTX) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research report sent to investors on Thursday, Benzinga reports. Needham & Company LLC currently has a $62.00 price target on the stock.

Other equities research analysts also recently issued reports about the stock. Oppenheimer assumed coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 25th. They set an outperform rating and a $104.00 price objective for the company. HC Wainwright reiterated a buy rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday. Wolfe Research downgraded shares of MoonLake Immunotherapeutics from an outperform rating to a peer perform rating in a research note on Monday, August 26th. Finally, Cantor Fitzgerald reiterated an overweight rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 9th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, MoonLake Immunotherapeutics has a consensus rating of Moderate Buy and an average target price of $80.45.

MoonLake Immunotherapeutics Stock Up 0.2 %

Shares of MLTX opened at $51.14 on Thursday. The company has a market cap of $3.27 billion, a price-to-earnings ratio of -68.19 and a beta of 1.26. MoonLake Immunotherapeutics has a twelve month low of $35.11 and a twelve month high of $64.98. The company has a 50 day moving average of $46.12 and a two-hundred day moving average of $44.74.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.11). During the same period last year, the business posted ($0.23) EPS. On average, sell-side analysts expect that MoonLake Immunotherapeutics will post -1.45 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Perceptive Advisors LLC purchased a new position in MoonLake Immunotherapeutics in the fourth quarter valued at $4,976,000. Avoro Capital Advisors LLC increased its holdings in MoonLake Immunotherapeutics by 29.0% in the fourth quarter. Avoro Capital Advisors LLC now owns 2,580,000 shares of the company’s stock valued at $155,806,000 after buying an additional 580,001 shares in the last quarter. SG Americas Securities LLC purchased a new position in MoonLake Immunotherapeutics in the first quarter valued at $726,000. Westfield Capital Management Co. LP increased its holdings in MoonLake Immunotherapeutics by 48.8% in the first quarter. Westfield Capital Management Co. LP now owns 910,873 shares of the company’s stock valued at $45,753,000 after buying an additional 298,823 shares in the last quarter. Finally, Finepoint Capital LP increased its holdings in MoonLake Immunotherapeutics by 170.1% in the fourth quarter. Finepoint Capital LP now owns 895,000 shares of the company’s stock valued at $54,049,000 after buying an additional 563,584 shares in the last quarter. Hedge funds and other institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Company Profile

MoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, engages in developing therapies. It develops Sonelokimab, a novel investigational Nanobody for the treatment of inflammation diseases; and hidradenitis suppurativa, psoriatic arthritis, axial spondyloarthritis, and psoriasis. MoonLake Immunotherapeutics was incorporated in 2020 and is headquartered in Zug, Switzerland.