Brokerages Set MoonLake Immunotherapeutics (NASDAQ:MLTX) Target Price at $74.50

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) have received a consensus recommendation of "Buy" from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have covered the stock in the last year is $74.50.

Several brokerages have recently commented on MLTX. Wedbush reaffirmed an "outperform" rating and set a $80.00 price objective (up previously from $78.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $67.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 3rd. Wolfe Research raised shares of MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 price objective for the company in a research report on Monday, May 19th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th.

Institutional Trading of MoonLake Immunotherapeutics

Hedge funds have recently bought and sold shares of the business. Deutsche Bank AG grew its position in MoonLake Immunotherapeutics by 59.8% in the 4th quarter. Deutsche Bank AG now owns 903 shares of the company's stock valued at $49,000 after purchasing an additional 338 shares during the period. US Bancorp DE grew its position in MoonLake Immunotherapeutics by 114.4% in the 1st quarter. US Bancorp DE now owns 2,208 shares of the company's stock valued at $86,000 after purchasing an additional 1,178 shares during the period. Quarry LP acquired a new stake in MoonLake Immunotherapeutics in the 1st quarter valued at $94,000. Advisors Asset Management Inc. grew its position in MoonLake Immunotherapeutics by 81.7% in the 1st 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. Finally, Birchview Capital LP acquired a new stake in MoonLake Immunotherapeutics in the 4th quarter valued at $217,000. Institutional investors and hedge funds own 93.85% of the company's stock.

MoonLake Immunotherapeutics Trading Up 3.3%

MoonLake Immunotherapeutics stock traded up $1.53 during mid-day trading on Friday, hitting $48.28. 868,312 shares of the stock were exchanged, compared to its average volume of 386,036. The company has a quick ratio of 21.11, a current ratio of 21.11 and a debt-to-equity ratio of 0.18. MoonLake Immunotherapeutics has a 12 month low of $31.42 and a 12 month high of $58.26. The firm's fifty day simple moving average is $42.97 and its two-hundred day simple moving average is $42.72. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of -20.99 and a beta of 1.27.

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