MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives Average Recommendation of “Buy” from Analysts

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have been given an average rating of “Buy” by the eight research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $80.50.

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

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its position in shares of MoonLake Immunotherapeutics by 3.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 118,126 shares of the company’s stock worth $5,956,000 after acquiring an additional 3,892 shares in the last quarter. FMR LLC lifted its stake in MoonLake Immunotherapeutics by 35.8% during the third quarter. FMR LLC now owns 4,950,224 shares of the company’s stock worth $249,590,000 after purchasing an additional 1,306,215 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of MoonLake Immunotherapeutics by 96.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,814 shares of the company’s stock valued at $1,806,000 after purchasing an additional 17,580 shares in the last quarter. Fred Alger Management LLC increased its stake in shares of MoonLake Immunotherapeutics by 1.1% in the 3rd quarter. Fred Alger Management LLC now owns 666,574 shares of the company’s stock valued at $33,609,000 after purchasing an additional 7,545 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new position in shares of MoonLake Immunotherapeutics during the 3rd quarter worth $741,000. 93.85% of the stock is currently owned by institutional investors and hedge funds.

MoonLake Immunotherapeutics Price Performance

NASDAQ:MLTX opened at $36.35 on Friday. The company has a market cap of $2.33 billion, a P/E ratio of -28.18 and a beta of 1.31. The firm’s fifty day moving average price is $41.89 and its two-hundred day moving average price is $47.60. MoonLake Immunotherapeutics has a one year low of $36.34 and a one year high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.09). As a group, equities research analysts expect 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.