MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives $80.50 Average PT from Analysts

MoonLake Immunotherapeutics (NASDAQ:MLTX) has been assigned an average rating of “Buy” from the eight brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $80.50.

A number of research firms have issued reports on MLTX. HC Wainwright reiterated a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. The Goldman Sachs Group reduced their price objective on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Royal Bank of Canada started coverage on MoonLake Immunotherapeutics in a research report on Tuesday, March 18th. They issued an “outperform” rating and a $67.00 price target for the company. Finally, Needham & Company LLC upped their target price on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its stake in shares of MoonLake Immunotherapeutics by 28.1% in the 4th quarter. FMR LLC now owns 6,341,391 shares of the company’s stock worth $343,386,000 after buying an additional 1,391,167 shares during the last quarter. Paradigm Biocapital Advisors LP increased its stake in shares of MoonLake Immunotherapeutics by 90.3% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company’s stock worth $95,965,000 after purchasing an additional 840,731 shares in the last quarter. Polar Capital Holdings Plc grew its holdings in MoonLake Immunotherapeutics by 120.0% during the fourth quarter. Polar Capital Holdings Plc now owns 1,100,000 shares of the company’s stock valued at $59,565,000 after purchasing an additional 600,000 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of MoonLake Immunotherapeutics by 12.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,343,643 shares of the company’s stock worth $181,059,000 after buying an additional 363,394 shares during the period. Finally, Federated Hermes Inc. increased its holdings in MoonLake Immunotherapeutics by 13.2% in the 4th quarter. Federated Hermes Inc. now owns 1,280,052 shares of the company’s stock worth $69,315,000 after acquiring an additional 149,724 shares in the last quarter. 93.85% of the stock is owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Stock Up 0.1 %

Shares of MoonLake Immunotherapeutics stock opened at $39.86 on Friday. The business has a 50 day moving average of $42.17 and a 200 day moving average of $47.79. The company has a market cap of $2.55 billion, a PE ratio of -30.90 and a beta of 1.31. MoonLake Immunotherapeutics has a 52 week low of $36.52 and a 52 week high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.09). On average, research analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

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.