MoonLake Immunotherapeutics (NASDAQ:MLTX) Given New $18.00 Price Target at Wedbush

MoonLake Immunotherapeutics (NASDAQ:MLTX) had its price target decreased by Wedbush from $80.00 to $18.00 in a research report sent to investors on Tuesday,Benzinga reports. Wedbush currently has an outperform rating on the stock.

Several other research analysts have also recently weighed in on MLTX. Royal Bank Of Canada restated a “sector perform” rating and issued a $10.00 price objective (down previously from $67.00) on shares of MoonLake Immunotherapeutics in a research report on Monday. Needham & Company LLC lowered their target price on MoonLake Immunotherapeutics from $66.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday. BTIG Research lowered MoonLake Immunotherapeutics from a “buy” rating to a “neutral” rating and set a $85.00 price target on the stock. in a research note on Monday. Jefferies Financial Group cut MoonLake Immunotherapeutics from a “buy” rating to a “hold” rating and set a $8.00 price target on the stock. in a report on Monday. Finally, Redburn Atlantic raised MoonLake Immunotherapeutics to a “hold” rating in a report on Monday, July 28th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.82.

MoonLake Immunotherapeutics Stock Up 14.9%

Shares of NASDAQ MLTX opened at $7.17 on Tuesday. MoonLake Immunotherapeutics has a 12-month low of $5.95 and a 12-month high of $62.75. The firm’s 50-day simple moving average is $52.80 and its 200 day simple moving average is $45.74. The company has a quick ratio of 16.65, a current ratio of 16.65 and a debt-to-equity ratio of 0.21. The company has a market cap of $460.53 million, a price-to-earnings ratio of -2.58 and a beta of 1.27.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last announced its earnings results on Tuesday, August 5th. The company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.14). During the same period in the prior year, the company earned ($0.39) EPS. On average, research analysts expect that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several large investors have recently modified their holdings of the business. Westfield Capital Management Co. LP raised its position in shares of MoonLake Immunotherapeutics by 9.4% during the first quarter. Westfield Capital Management Co. LP now owns 1,434,770 shares of the company’s stock worth $56,056,000 after purchasing an additional 123,151 shares during the period. Alliancebernstein L.P. increased its stake in MoonLake Immunotherapeutics by 17.8% during the 2nd quarter. Alliancebernstein L.P. now owns 1,138,022 shares of the company’s stock worth $53,715,000 after purchasing an additional 171,932 shares in the last quarter. Hood River Capital Management LLC raised its holdings in MoonLake Immunotherapeutics by 1.9% during the 2nd quarter. Hood River Capital Management LLC now owns 675,445 shares of the company’s stock worth $31,881,000 after buying an additional 12,462 shares during the period. Nuveen LLC acquired a new stake in MoonLake Immunotherapeutics during the 1st quarter worth approximately $26,308,000. Finally, Vestal Point Capital LP lifted its stake in MoonLake Immunotherapeutics by 175.0% in the second quarter. Vestal Point Capital LP now owns 550,000 shares of the company’s stock valued at $25,960,000 after buying an additional 350,000 shares in the last quarter. 93.85% of the stock is currently owned by 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.