MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives Average Rating of “Buy” from Brokerages

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have been assigned a consensus recommendation of “Buy” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $80.50.

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

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several institutional investors and hedge funds have recently modified their holdings of MLTX. FMR LLC lifted its stake in shares of MoonLake Immunotherapeutics by 28.1% in the 4th quarter. FMR LLC now owns 6,341,391 shares of the company’s stock valued at $343,386,000 after purchasing an additional 1,391,167 shares during the last quarter. Paradigm Biocapital Advisors LP increased its holdings 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 valued at $95,965,000 after acquiring an additional 840,731 shares during the last quarter. Polar Capital Holdings Plc raised its stake in shares of MoonLake Immunotherapeutics by 120.0% in the 4th quarter. Polar Capital Holdings Plc now owns 1,100,000 shares of the company’s stock valued at $59,565,000 after acquiring an additional 600,000 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in MoonLake Immunotherapeutics by 12.2% in 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 during the last quarter. Finally, Federated Hermes Inc. boosted its position in MoonLake Immunotherapeutics by 13.2% during the fourth quarter. Federated Hermes Inc. now owns 1,280,052 shares of the company’s stock worth $69,315,000 after purchasing an additional 149,724 shares during the period. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Trading Up 4.4 %

Shares of MLTX stock opened at $40.00 on Tuesday. MoonLake Immunotherapeutics has a twelve month low of $31.42 and a twelve month high of $58.26. The business’s 50 day moving average is $38.97 and its two-hundred day moving average is $45.84. The company has a market capitalization of $2.56 billion, a P/E ratio of -31.01 and a beta of 1.32.

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

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.