MoonLake Immunotherapeutics' (MLTX) "Outperform" Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) in a report published on Tuesday morning,Benzinga reports. They currently have a $67.00 price objective on the stock.

Several other equities analysts have also recently issued reports on MLTX. The Goldman Sachs Group reduced their target price on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Wedbush reissued an "outperform" rating and set a $80.00 target price (up from $78.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. Wolfe Research raised MoonLake Immunotherapeutics from a "peer perform" rating to an "outperform" rating and set a $61.00 target price on the stock in a research note on Monday, May 19th. HC Wainwright reissued a "buy" rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Finally, Needham & Company LLC reissued a "buy" rating and set a $66.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, MoonLake Immunotherapeutics presently has a consensus rating of "Buy" and a consensus target price of $78.71.

MoonLake Immunotherapeutics Price Performance

MoonLake Immunotherapeutics stock traded down $1.95 during trading hours on Tuesday, reaching $46.88. The company had a trading volume of 881,415 shares, compared to its average volume of 377,607. The company has a 50-day moving average price of $39.15 and a 200 day moving average price of $43.91. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of -36.34 and a beta of 1.23. MoonLake Immunotherapeutics has a 12-month low of $31.42 and a 12-month high of $58.26.

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

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several hedge funds have recently made changes to their positions in MLTX. Deutsche Bank AG boosted its position in shares of MoonLake Immunotherapeutics by 59.8% during the fourth quarter. Deutsche Bank AG now owns 903 shares of the company's stock valued at $49,000 after purchasing an additional 338 shares in the last quarter. US Bancorp DE boosted its position in shares of MoonLake Immunotherapeutics by 114.4% during the first 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 in the last quarter. Quarry LP bought a new stake in shares of MoonLake Immunotherapeutics during the first quarter valued at approximately $94,000. Advisors Asset Management Inc. boosted its position in shares of MoonLake Immunotherapeutics by 81.7% during the first 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 in the last quarter. Finally, Birchview Capital LP bought a new stake in shares of MoonLake Immunotherapeutics during the fourth quarter valued at approximately $217,000. 93.85% of the stock is currently owned by institutional investors.

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.