Needham & Company LLC reiterated their buy rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX – Free Report) in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage currently has a $76.00 price objective on the stock.
Several other research analysts also recently commented on MLTX. Wedbush reaffirmed an outperform rating and issued a $86.00 price target on shares of MoonLake Immunotherapeutics in a research report on Monday, August 14th. Barclays boosted their target price on MoonLake Immunotherapeutics from $41.00 to $59.00 and gave the stock an equal weight rating in a report on Tuesday. BTIG Research raised their price target on MoonLake Immunotherapeutics from $36.00 to $68.00 in a report on Tuesday, June 27th. HC Wainwright reiterated a buy rating and issued a $75.00 price objective on shares of MoonLake Immunotherapeutics in a report on Tuesday. Finally, Guggenheim lifted their target price on MoonLake Immunotherapeutics from $51.00 to $65.00 in a report on Monday, June 26th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, MoonLake Immunotherapeutics currently has a consensus rating of Moderate Buy and an average price target of $58.80.
MoonLake Immunotherapeutics Price Performance
MoonLake Immunotherapeutics (NASDAQ:MLTX – Get Free Report) last announced its quarterly earnings data on Thursday, August 10th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.04. Sell-side analysts predict that MoonLake Immunotherapeutics will post -0.96 EPS for the current fiscal year.
In other news, major shareholder Bihua Chen purchased 450,000 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The stock was acquired at an average cost of $45.63 per share, with a total value of $20,533,500.00. Following the acquisition, the insider now owns 4,127,100 shares in the company, valued at approximately $188,319,573. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 15.27% of the stock is owned by insiders.
Institutional Investors Weigh In On MoonLake Immunotherapeutics
Several institutional investors and hedge funds have recently bought and sold shares of MLTX. Osaic Holdings Inc. boosted its position in MoonLake Immunotherapeutics by 956.6% in the second quarter. Osaic Holdings Inc. now owns 803 shares of the company’s stock valued at $41,000 after buying an additional 727 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of MoonLake Immunotherapeutics during the 2nd quarter valued at about $47,000. PNC Financial Services Group Inc. bought a new stake in MoonLake Immunotherapeutics in the 2nd quarter valued at about $221,000. Envestnet Asset Management Inc. acquired a new stake in MoonLake Immunotherapeutics in the 2nd quarter valued at $260,000. Finally, LPL Financial LLC bought a new position in MoonLake Immunotherapeutics in the 2nd quarter valued at about $311,000.
MoonLake Immunotherapeutics Company Profile
MoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, engages in developing therapies. It is developing Sonelokimab, a novel investigational Nanobody for the treatment of inflammation diseases. The company is involved in conducting Phase II trials for hidradenitis suppurativa, psoriatic arthritis, ankylosing spondylitis, or axial spondyloarthritis.
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