MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives Consensus Rating of “Buy” from Analysts

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have been assigned a consensus rating of “Buy” from the eight ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $80.50.

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Royal Bank of Canada began coverage on shares of MoonLake Immunotherapeutics in a research report on Tuesday, March 18th. They set an “outperform” rating and a $67.00 price objective on the stock. Needham & Company LLC upped their price objective on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, HC Wainwright reiterated a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 27th.

MoonLake Immunotherapeutics Price Performance

Shares of NASDAQ MLTX opened at $39.84 on Friday. The business has a 50-day moving average of $42.25 and a two-hundred day moving average of $47.82. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of -30.88 and a beta of 1.31. MoonLake Immunotherapeutics has a 1 year low of $36.52 and a 1 year high of $58.26.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.09). As a group, equities research analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MLTX. FMR LLC increased its holdings in MoonLake Immunotherapeutics by 28.1% during the 4th quarter. FMR LLC now owns 6,341,391 shares of the company’s stock valued at $343,386,000 after acquiring an additional 1,391,167 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of MoonLake Immunotherapeutics by 12.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,343,643 shares of the company’s stock worth $181,059,000 after purchasing an additional 363,394 shares in the last quarter. Paradigm Biocapital Advisors LP increased its stake in shares of MoonLake Immunotherapeutics by 90.3% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company’s stock worth $95,965,000 after purchasing an additional 840,731 shares in the last quarter. Federated Hermes Inc. lifted its stake in MoonLake Immunotherapeutics by 13.2% in the 4th quarter. Federated Hermes Inc. now owns 1,280,052 shares of the company’s stock valued at $69,315,000 after buying an additional 149,724 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in MoonLake Immunotherapeutics by 7.9% during the 4th quarter. Marshall Wace LLP now owns 1,245,299 shares of the company’s stock valued at $67,433,000 after buying an additional 90,914 shares during the last quarter. 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.