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

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) has earned an average recommendation of "Buy" from the eight analysts that are presently covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $78.71.

Several equities analysts have weighed in on MLTX shares. Wolfe Research upgraded 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 report on Monday. 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 report on Thursday, February 27th. HC Wainwright restated a "buy" rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. Wedbush restated an "outperform" rating and set a $80.00 price target (up from $78.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. Finally, Needham & Company LLC restated a "buy" rating and set a $66.00 price target on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th.

MoonLake Immunotherapeutics Price Performance

NASDAQ MLTX traded down $0.03 on Friday, hitting $38.51. 315,507 shares of the stock were exchanged, compared to its average volume of 354,227. MoonLake Immunotherapeutics has a 52-week low of $31.42 and a 52-week high of $58.26. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of -29.85 and a beta of 1.31. The company's 50-day moving average price is $38.45 and its two-hundred day moving average price is $44.52.

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

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its stake in shares of MoonLake Immunotherapeutics by 3.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,500 shares of the company's stock valued at $460,000 after purchasing an additional 320 shares during the last quarter. Deutsche Bank AG lifted its position in 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 acquiring an additional 338 shares during the last quarter. Geode Capital Management LLC lifted its position in MoonLake Immunotherapeutics by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 58,950 shares of the company's stock worth $3,192,000 after acquiring an additional 540 shares during the last quarter. MPM Bioimpact LLC boosted its holdings in MoonLake Immunotherapeutics by 0.3% during the first quarter. MPM Bioimpact LLC now owns 316,049 shares of the company's stock valued at $12,348,000 after acquiring an additional 819 shares during the period. Finally, DnB Asset Management AS grew its position in shares of MoonLake Immunotherapeutics by 11.3% in the fourth quarter. DnB Asset Management AS now owns 8,356 shares of the company's stock valued at $452,000 after purchasing an additional 847 shares during the last quarter. Institutional investors and hedge funds 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.