MoonLake Immunotherapeutics (NASDAQ:MLTX) Downgraded by Stifel Nicolaus to "Hold"

Key Points

• MoonLake Immunotherapeutics has been downgraded by Stifel Nicolaus from a "buy" to a "hold" rating, with a target price of $13.00, indicating an 85.24% upside potential from its previous closing price.
• Other analysts have varied views on the stock; Royal Bank of Canada lowered its price target significantly to $10.00, while The Goldman Sachs Group raised theirs to $82.00, maintaining a "buy" rating.
• MoonLake reported a quarterly earnings miss, with an EPS of ($0.87) compared to analysts' expectations of ($0.73), further complicating its market outlook.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) was downgraded by equities researchers at Stifel Nicolaus from a "buy" rating to a "hold" rating in a report released on Monday, Marketbeat Ratings reports. They currently have a $13.00 target price on the stock. Stifel Nicolaus' price objective would indicate a potential upside of 85.24% from the stock's previous close.

A number of other research firms have also recently commented on MLTX. Royal Bank Of Canada reissued a "sector perform" rating and issued a $10.00 price target (down from $67.00) on shares of MoonLake Immunotherapeutics in a report on Monday. Redburn Atlantic raised MoonLake Immunotherapeutics to a "hold" rating in a report on Monday, July 28th. BTIG Research cut MoonLake Immunotherapeutics from a "buy" rating to a "neutral" rating and set a $85.00 price objective on the stock. in a report on Monday. Rothschild & Co Redburn assumed coverage on MoonLake Immunotherapeutics in a research report on Monday, July 28th. They set a "neutral" rating and a $65.00 target price on the stock. Finally, The Goldman Sachs Group boosted their target price on MoonLake Immunotherapeutics from $74.00 to $82.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, MoonLake Immunotherapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $62.44.

MoonLake Immunotherapeutics Price Performance

NASDAQ MLTX traded down $54.97 during trading hours on Monday, reaching $7.02. The company's stock had a trading volume of 32,042,808 shares, compared to its average volume of 663,177. The firm's 50-day moving average price is $54.68 and its 200-day moving average price is $46.24. The company has a quick ratio of 16.65, a current ratio of 16.65 and a debt-to-equity ratio of 0.21. MoonLake Immunotherapeutics has a 1 year low of $6.56 and a 1 year high of $62.75. The company has a market capitalization of $450.77 million, a price-to-earnings ratio of -2.48 and a beta of 1.27.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.87) EPS for the quarter, missing analysts' consensus estimates of ($0.73) by ($0.14). During the same period in the prior year, the firm earned ($0.39) earnings per share. On average, equities research analysts predict that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Hedge funds have recently made changes to their positions in the stock. Deutsche Bank AG lifted its stake in shares of MoonLake Immunotherapeutics by 59.8% during the 4th quarter. Deutsche Bank AG now owns 903 shares of the company's stock worth $49,000 after purchasing an additional 338 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in MoonLake Immunotherapeutics in the second quarter valued at about $74,000. US Bancorp DE raised its stake in MoonLake Immunotherapeutics by 114.4% in the first quarter. US Bancorp DE now owns 2,208 shares of the company's stock valued at $86,000 after buying an additional 1,178 shares during the last quarter. Quarry LP acquired a new position in shares of MoonLake Immunotherapeutics in the first quarter valued at about $94,000. Finally, Advisors Asset Management Inc. increased its holdings in shares of MoonLake Immunotherapeutics by 81.7% in the first quarter. Advisors Asset Management Inc. now owns 4,009 shares of the company's stock valued at $157,000 after purchasing an additional 1,803 shares during the period. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

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.

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