MoonLake Immunotherapeutics (NASDAQ:MLTX) Given Consensus Recommendation of “Buy” by Brokerages

MoonLake Immunotherapeutics (NASDAQ:MLTX) has earned an average rating of “Buy” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $84.29.

MLTX has been the subject of a number of research reports. Wedbush reiterated an “outperform” rating and set a $73.00 target price (down from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, November 5th. The Goldman Sachs Group upgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $62.00 to $82.00 in a research report on Friday, January 17th. Finally, HC Wainwright restated a “buy” rating and issued a $100.00 target price on shares of MoonLake Immunotherapeutics in a report on Friday, January 10th.

MoonLake Immunotherapeutics Stock Up 5.7 %

MLTX opened at $46.63 on Thursday. The company has a market capitalization of $2.98 billion, a PE ratio of -36.15 and a beta of 1.28. The firm has a 50-day simple moving average of $50.02 and a two-hundred day simple moving average of $49.04. MoonLake Immunotherapeutics has a 52 week low of $37.55 and a 52 week high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same quarter in the prior year, the company earned ($0.18) earnings per share. As a group, sell-side analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. US Bancorp DE purchased a new position in MoonLake Immunotherapeutics during the 3rd quarter valued at $44,000. Barclays PLC boosted its stake in shares of MoonLake Immunotherapeutics by 1,269.2% during the third quarter. Barclays PLC now owns 5,641 shares of the company’s stock valued at $283,000 after purchasing an additional 5,229 shares during the period. Handelsbanken Fonder AB grew its holdings in shares of MoonLake Immunotherapeutics by 26.2% in the third quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company’s stock worth $655,000 after purchasing an additional 2,700 shares during the last quarter. AlphaCentric Advisors LLC purchased a new position in MoonLake Immunotherapeutics in the 3rd quarter worth about $706,000. Finally, Erste Asset Management GmbH bought a new stake in MoonLake Immunotherapeutics during the 3rd quarter valued at about $741,000. Hedge funds and other institutional investors own 93.85% of the company’s stock.

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.