Needham & Company LLC Reaffirms Buy Rating for MoonLake Immunotherapeutics (NASDAQ:MLTX)

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They currently have a $66.00 price target on the stock. Needham & Company LLC’s price target would indicate a potential upside of 78.43% from the company’s previous close.

MLTX has been the subject of several other reports. Royal Bank of Canada assumed coverage on MoonLake Immunotherapeutics in a research report on Tuesday, March 18th. They set an “outperform” rating and a $67.00 target price for the company. HC Wainwright restated a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group reduced their target price on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, MoonLake Immunotherapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.67.

MoonLake Immunotherapeutics Stock Performance

NASDAQ:MLTX opened at $36.99 on Tuesday. MoonLake Immunotherapeutics has a 52-week low of $31.42 and a 52-week high of $58.26. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of -28.67 and a beta of 1.31. The business’s fifty day moving average is $38.39 and its 200 day moving average is $44.87.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.13. During the same period in the prior year, the business earned ($0.22) EPS. Equities analysts predict that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC boosted its holdings in shares of MoonLake Immunotherapeutics by 1,269.2% in the 3rd quarter. Barclays PLC now owns 5,641 shares of the company’s stock worth $283,000 after purchasing an additional 5,229 shares in the last quarter. Congress Asset Management Co. boosted its holdings in MoonLake Immunotherapeutics by 9.5% during the 4th quarter. Congress Asset Management Co. now owns 72,993 shares of the company’s stock valued at $3,953,000 after acquiring an additional 6,352 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in MoonLake Immunotherapeutics during the 4th quarter valued at about $244,000. Rice Hall James & Associates LLC boosted its holdings in MoonLake Immunotherapeutics by 47.3% during the 4th quarter. Rice Hall James & Associates LLC now owns 111,133 shares of the company’s stock valued at $6,018,000 after acquiring an additional 35,664 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in MoonLake Immunotherapeutics by 18.4% during the 4th quarter. Teacher Retirement System of Texas now owns 6,532 shares of the company’s stock valued at $354,000 after acquiring an additional 1,013 shares during the period. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

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.