MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• MoonLake Immunotherapeutics (NASDAQ:MLTX) has received a consensus recommendation of "Moderate Buy" from nine brokerages, with seven analysts issuing buy recommendations and two recommending a hold.
• The average one-year price target for the stock is $73.14, with several analysts setting targets in the range of $65.00 to $80.00.
• Approximately 93.85% of MoonLake Immunotherapeutics' shares are currently held by institutional investors, reflecting strong institutional interest in the company.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) has earned an average recommendation of "Moderate Buy" from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $73.14.

MLTX has been the subject of several recent research reports. Redburn Atlantic upgraded MoonLake Immunotherapeutics to a "hold" rating in a research report on Monday. Wedbush reiterated an "outperform" rating and issued a $80.00 price target (up from $78.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. Needham & Company LLC reiterated a "buy" rating and issued a $66.00 price target on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. Wolfe Research upgraded MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 price target for the company in a research report on Monday, May 19th. Finally, Rothschild & Co Redburn started coverage on MoonLake Immunotherapeutics in a research report on Monday. They issued a "neutral" rating and a $65.00 price target for the company.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC grew its position in MoonLake Immunotherapeutics by 28.1% during the fourth 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in MoonLake Immunotherapeutics by 12.2% during 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 purchasing an additional 363,394 shares during the last quarter. Paradigm Biocapital Advisors LP lifted its stake in MoonLake Immunotherapeutics by 90.3% during the fourth 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 during the last quarter. Westfield Capital Management Co. LP lifted its stake in MoonLake Immunotherapeutics by 9.4% during the first quarter. Westfield Capital Management Co. LP now owns 1,434,770 shares of the company's stock worth $56,056,000 after purchasing an additional 123,151 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in MoonLake Immunotherapeutics by 13.2% during the fourth quarter. Federated Hermes Inc. now owns 1,280,052 shares of the company's stock worth $69,315,000 after purchasing an additional 149,724 shares during the last quarter. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Stock Performance

NASDAQ:MLTX traded up $2.48 during trading hours on Thursday, reaching $52.92. The stock had a trading volume of 957,582 shares, compared to its average volume of 486,550. The company has a debt-to-equity ratio of 0.18, a quick ratio of 21.11 and a current ratio of 21.11. The stock has a 50 day simple moving average of $46.95 and a 200 day simple moving average of $42.77. MoonLake Immunotherapeutics has a 12-month low of $31.42 and a 12-month high of $58.26. The stock has a market cap of $3.39 billion, a P/E ratio of -23.01 and a beta of 1.27.

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

About MoonLake Immunotherapeutics

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.