MoonLake Immunotherapeutics (NASDAQ:MLTX) Upgraded by Wolfe Research to Outperform Rating

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) was upgraded by stock analysts at Wolfe Research from a "peer perform" rating to an "outperform" rating in a report released on Monday,Benzinga reports. The firm currently has a $61.00 price target on the stock. Wolfe Research's price objective suggests a potential upside of 62.15% from the company's previous close.

Several other equities research analysts also recently commented on the stock. Needham & Company LLC reiterated a "buy" rating and set a $66.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. Wedbush reiterated an "outperform" rating and set a $80.00 price objective (up from $78.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. HC Wainwright reiterated a "buy" rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Royal Bank of Canada began coverage on shares of MoonLake Immunotherapeutics in a report on Tuesday, March 18th. They set an "outperform" rating and a $67.00 target price for the company. Finally, The Goldman Sachs Group reduced their target price on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, MoonLake Immunotherapeutics currently has a consensus rating of "Buy" and an average price target of $78.71.

MoonLake Immunotherapeutics Stock Down 0.1%

Shares of MLTX opened at $37.62 on Monday. The company has a market cap of $2.41 billion, a price-to-earnings ratio of -29.16 and a beta of 1.31. MoonLake Immunotherapeutics has a twelve month low of $31.42 and a twelve month high of $58.26. The company has a 50 day moving average of $38.40 and a two-hundred day moving average of $44.70.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.13. During the same quarter last year, the company earned ($0.22) EPS. On average, sell-side analysts expect that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG increased its holdings in MoonLake Immunotherapeutics by 59.8% in the fourth quarter. Deutsche Bank AG now owns 903 shares of the company's stock valued at $49,000 after buying an additional 338 shares in the last quarter. US Bancorp DE increased its holdings in MoonLake Immunotherapeutics by 114.4% in the first quarter. US Bancorp DE now owns 2,208 shares of the company's stock valued at $86,000 after buying an additional 1,178 shares in the last quarter. Quarry LP purchased a new position in MoonLake Immunotherapeutics in the first quarter valued at $94,000. Advisors Asset Management Inc. increased its holdings in MoonLake Immunotherapeutics by 81.7% in the first quarter. Advisors Asset Management Inc. now owns 4,009 shares of the company's stock valued at $157,000 after buying an additional 1,803 shares in the last quarter. Finally, Birchview Capital LP purchased a new position in MoonLake Immunotherapeutics in the fourth quarter valued at $217,000. Hedge funds and other institutional investors own 93.85% of the company's stock.

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.

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