MoonLake Immunotherapeutics (NASDAQ:MLTX) PT Raised to $77.00

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its price objective boosted by Guggenheim from $70.00 to $77.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s target price points to a potential upside of 91.07% from the company’s current price.

Several other analysts have also issued reports on MLTX. Barclays boosted their price target on MoonLake Immunotherapeutics from $41.00 to $59.00 and gave the company an “equal weight” rating in a report on Tuesday, September 12th. Bryan, Garnier & Co lowered MoonLake Immunotherapeutics from a “buy” rating to a “neutral” rating in a report on Thursday, September 14th. Needham & Company LLC restated a “buy” rating and issued a $76.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Monday, October 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $78.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Wednesday, November 8th. Finally, Stifel Nicolaus initiated coverage on MoonLake Immunotherapeutics in a research report on Thursday, November 2nd. They issued a “buy” rating and a $74.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.70.

MoonLake Immunotherapeutics Price Performance

Shares of MLTX opened at $40.30 on Wednesday. MoonLake Immunotherapeutics has a one year low of $7.89 and a one year high of $63.40. The firm has a market capitalization of $2.52 billion, a P/E ratio of -38.75 and a beta of 1.49. The business has a fifty day moving average of $52.13 and a 200 day moving average of $46.02.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last issued its quarterly earnings data on Tuesday, November 14th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.05. Analysts expect that MoonLake Immunotherapeutics will post -0.95 EPS for the current fiscal year.

Insider Buying and Selling at MoonLake Immunotherapeutics

In related news, major shareholder Bihua Chen acquired 67,814 shares of the firm’s stock in a transaction on Wednesday, October 4th. The shares were acquired at an average cost of $57.32 per share, for a total transaction of $3,887,098.48. Following the completion of the transaction, the insider now directly owns 8,435,312 shares in the company, valued at approximately $483,512,083.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 15.27% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Boulder Hill Capital Management LP bought a new position in MoonLake Immunotherapeutics in the first quarter worth approximately $310,000. Banque Pictet & Cie SA bought a new position in MoonLake Immunotherapeutics in the second quarter worth approximately $32,640,000. TimesSquare Capital Management LLC purchased a new stake in MoonLake Immunotherapeutics during the second quarter worth $1,530,000. Victory Capital Management Inc. purchased a new stake in MoonLake Immunotherapeutics during the second quarter worth $1,068,000. Finally, Federated Hermes Inc. purchased a new stake in MoonLake Immunotherapeutics during the first quarter worth $17,208,000.

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.