HC Wainwright Reiterates Buy Rating for MoonLake Immunotherapeutics (NASDAQ:MLTX)

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research note issued on Friday,Benzinga reports. They currently have a $100.00 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 115.94% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Wedbush restated an “outperform” rating and set a $73.00 target price (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, November 5th. Cantor Fitzgerald restated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $62.00 target price on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MoonLake Immunotherapeutics has an average rating of “Moderate Buy” and a consensus target price of $81.43.

MoonLake Immunotherapeutics Stock Down 3.9 %

Shares of NASDAQ:MLTX opened at $46.31 on Friday. The firm’s 50 day moving average price is $52.17 and its 200-day moving average price is $48.85. MoonLake Immunotherapeutics has a twelve month low of $37.55 and a twelve month high of $64.98. The stock has a market capitalization of $2.96 billion, a PE ratio of -35.90 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.12). During the same period in the previous year, the company posted ($0.18) EPS. Analysts expect that MoonLake Immunotherapeutics will post -1.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

A number of institutional investors have recently added to or reduced their stakes in MLTX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of MoonLake Immunotherapeutics by 96.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,814 shares of the company’s stock valued at $1,806,000 after purchasing an additional 17,580 shares in the last quarter. Erste Asset Management GmbH purchased a new position in shares of MoonLake Immunotherapeutics in the third quarter valued at $741,000. Victory Capital Management Inc. grew its holdings in shares of MoonLake Immunotherapeutics by 16.0% in the second quarter. Victory Capital Management Inc. now owns 174,682 shares of the company’s stock valued at $7,681,000 after purchasing an additional 24,037 shares in the last quarter. State Street Corp grew its holdings in shares of MoonLake Immunotherapeutics by 96.2% in the third quarter. State Street Corp now owns 87,637 shares of the company’s stock valued at $4,419,000 after purchasing an additional 42,980 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of MoonLake Immunotherapeutics by 100.2% in the third quarter. Harbor Capital Advisors Inc. now owns 77,468 shares of the company’s stock valued at $3,906,000 after purchasing an additional 38,779 shares in the last quarter. 93.85% of the stock is owned by hedge funds and other 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.