MoonLake Immunotherapeutics (NASDAQ:MLTX) Upgraded to Buy at Rothschild & Co Redburn

Rothschild & Co Redburn upgraded shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) from a neutral rating to a buy rating in a research report sent to investors on Thursday, MarketBeat.com reports. Rothschild & Co Redburn currently has $40.00 price objective on the stock, up from their prior price objective of $12.00.

A number of other equities analysts have also recently issued reports on MLTX. HC Wainwright upped their target price on MoonLake Immunotherapeutics from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. The Goldman Sachs Group cut MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and boosted their price target for the stock from $8.00 to $10.00 in a report on Wednesday, January 14th. Royal Bank Of Canada upped their price objective on MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the company a “sector perform” rating in a research note on Monday, March 2nd. Zacks Research upgraded shares of MoonLake Immunotherapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, Needham & Company LLC lifted their target price on shares of MoonLake Immunotherapeutics from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $25.92.

MoonLake Immunotherapeutics Trading Up 2.8%

Shares of NASDAQ:MLTX opened at $16.68 on Thursday. The business’s 50 day simple moving average is $16.89 and its 200 day simple moving average is $19.66. MoonLake Immunotherapeutics has a 1 year low of $5.95 and a 1 year high of $62.75. The company has a debt-to-equity ratio of 0.24, a current ratio of 9.27 and a quick ratio of 9.27. The company has a market capitalization of $1.20 billion, a P/E ratio of -4.74 and a beta of 1.20.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its earnings results on Wednesday, February 25th. The company reported ($0.92) EPS for the quarter, meeting the consensus estimate of ($0.92). During the same quarter in the prior year, the business earned ($0.72) earnings per share. On average, research analysts anticipate that MoonLake Immunotherapeutics will post -1.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cormorant Asset Management LP grew its holdings in shares of MoonLake Immunotherapeutics by 118.4% during the fourth quarter. Cormorant Asset Management LP now owns 4,355,433 shares of the company’s stock valued at $57,405,000 after buying an additional 2,361,260 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of MoonLake Immunotherapeutics by 18,782.8% in the 4th quarter. Janus Henderson Group PLC now owns 2,095,988 shares of the company’s stock worth $27,657,000 after acquiring an additional 2,084,888 shares during the last quarter. Logos Global Management LP acquired a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter worth about $23,065,000. Alliancebernstein L.P. lifted its position in MoonLake Immunotherapeutics by 17.8% in the 2nd quarter. Alliancebernstein L.P. now owns 1,138,022 shares of the company’s stock valued at $53,715,000 after acquiring an additional 171,932 shares in the last quarter. Finally, Vivo Capital LLC bought a new position in MoonLake Immunotherapeutics in the 4th quarter valued at about $13,180,000. 93.85% of the stock is 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.