The Goldman Sachs Group Raises MoonLake Immunotherapeutics (NASDAQ:MLTX) Price Target to $82.00

Key Points

• The Goldman Sachs Group has raised the price target for MoonLake Immunotherapeutics from $74.00 to $82.00, indicating a potential upside of 56.89% from its previous close.
• MoonLake has received a mix of ratings from other analysts, with seven ratings as "buy" and an average target price of $74.43.
• The company recently reported an EPS of ($0.87), missing analysts' expectations, and forecasts a projected EPS of -1.79 for the current year.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) had its price objective hoisted by The Goldman Sachs Group from $74.00 to $82.00 in a research report released on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other research analysts have also issued research reports about the company. Wolfe Research raised MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 target price for the company in a report on Monday, May 19th. Redburn Atlantic raised shares of MoonLake Immunotherapeutics to a "hold" rating in a report on Monday, July 28th. Rothschild & Co Redburn began coverage on shares of MoonLake Immunotherapeutics in a report on Monday, July 28th. They issued a "neutral" rating and a $65.00 price target on the stock. Wedbush reiterated an "outperform" rating and issued a $80.00 price objective (up previously from $78.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. Finally, Needham & Company LLC restated a "buy" rating and set a $66.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.43.

MoonLake Immunotherapeutics Stock Performance

Shares of NASDAQ MLTX traded down $0.26 during trading on Wednesday, reaching $51.64. 20,792 shares of the stock traded hands, compared to its average volume of 482,106. The company has a debt-to-equity ratio of 0.21, a current ratio of 16.65 and a quick ratio of 21.11. The stock has a market capitalization of $3.31 billion, a P/E ratio of -18.53 and a beta of 1.27. MoonLake Immunotherapeutics has a 52-week low of $31.42 and a 52-week high of $58.26. The company has a 50-day moving average of $48.60 and a 200-day moving average of $43.12.

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 previous year, the company earned ($0.39) earnings per share. Analysts forecast that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of MoonLake Immunotherapeutics by 17.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 42,236 shares of the company's stock worth $2,287,000 after buying an additional 6,422 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in MoonLake Immunotherapeutics by 44.6% in the first quarter. Victory Capital Management Inc. now owns 258,150 shares of the company's stock valued at $10,086,000 after acquiring an additional 79,649 shares in the last quarter. New York State Common Retirement Fund purchased a new position in MoonLake Immunotherapeutics during the 1st quarter valued at $273,000. Rice Hall James & Associates LLC raised its holdings in MoonLake Immunotherapeutics by 23.7% in the 1st quarter. Rice Hall James & Associates LLC now owns 137,516 shares of the company's stock worth $5,373,000 after purchasing an additional 26,383 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter worth about $3,485,000. Hedge funds and other institutional investors own 93.85% of the company's stock.

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.