Brokerages Set MoonLake Immunotherapeutics (NASDAQ:MLTX) PT at $78.71

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) has received a consensus recommendation of "Buy" from the eight analysts that are currently covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $78.71.

A number of research analysts recently issued reports on the stock. Wolfe Research raised shares of MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 price objective on the stock in a research note on Monday, May 19th. Royal Bank of Canada reissued an "outperform" rating and issued a $67.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, June 3rd. Wedbush reissued an "outperform" rating and issued a $80.00 price objective (up from $78.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. Needham & Company LLC reissued a "buy" rating and issued a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. Finally, The Goldman Sachs Group decreased their price objective on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th.

Institutional Trading of MoonLake Immunotherapeutics

A number of hedge funds have recently added to or reduced their stakes in MLTX. FMR LLC boosted its position in MoonLake Immunotherapeutics by 28.1% in the fourth quarter. FMR LLC now owns 6,341,391 shares of the company's stock valued at $343,386,000 after buying an additional 1,391,167 shares in the last quarter. Paradigm Biocapital Advisors LP boosted its position in MoonLake Immunotherapeutics by 90.3% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company's stock valued at $95,965,000 after buying an additional 840,731 shares in the last quarter. Nuveen LLC acquired a new stake in MoonLake Immunotherapeutics in the first quarter valued at approximately $26,308,000. Polar Capital Holdings Plc boosted its position in MoonLake Immunotherapeutics by 120.0% in the fourth quarter. Polar Capital Holdings Plc now owns 1,100,000 shares of the company's stock valued at $59,565,000 after buying an additional 600,000 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in 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 valued at $181,059,000 after buying an additional 363,394 shares in the last quarter. Institutional investors and hedge funds own 93.85% of the company's stock.

MoonLake Immunotherapeutics Stock Up 0.4%

Shares of MLTX traded up $0.19 during mid-day trading on Wednesday, hitting $44.21. 316,243 shares of the company's stock were exchanged, compared to its average volume of 383,422. MoonLake Immunotherapeutics has a 52 week low of $31.42 and a 52 week high of $58.26. The stock's 50-day simple moving average is $40.03 and its 200-day simple moving average is $43.58. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of -34.27 and a beta of 1.23.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.13. During the same quarter in the prior year, the firm earned ($0.22) EPS. Analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal 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.