MoonLake Immunotherapeutics (NASDAQ:MLTX) Upgraded to “Outperform” at Wolfe Research

Wolfe Research upgraded shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) from an underperform rating to an outperform rating in a report published on Monday morning, Marketbeat Ratings reports. Wolfe Research currently has $24.00 price objective on the stock, up from their previous price objective of $12.00.

Several other equities analysts also recently weighed in on MLTX. The Goldman Sachs Group downgraded shares of MoonLake Immunotherapeutics from a “neutral” rating to a “sell” rating and lifted their price target for the company from $8.00 to $10.00 in a report on Wednesday, January 14th. Needham & Company LLC raised their price objective on shares of MoonLake Immunotherapeutics from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. UBS Group set a $24.00 target price on shares of MoonLake Immunotherapeutics in a research note on Friday, January 9th. Oppenheimer upped their target price on shares of MoonLake Immunotherapeutics from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, February 24th. Finally, Royal Bank Of Canada increased their price target on MoonLake Immunotherapeutics from $12.00 to $13.00 and gave the stock a “sector perform” rating in a research note on Monday, March 2nd. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, MoonLake Immunotherapeutics presently has an average rating of “Hold” and an average price target of $23.08.

MoonLake Immunotherapeutics Price Performance

Shares of MoonLake Immunotherapeutics stock opened at $16.87 on Monday. MoonLake Immunotherapeutics has a one year low of $5.95 and a one year high of $62.75. The stock’s fifty day moving average is $16.82 and its 200 day moving average is $18.53. The stock has a market cap of $1.21 billion, a P/E ratio of -4.79 and a beta of 1.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 9.27 and a current ratio of 9.27.

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

Institutional Trading of MoonLake Immunotherapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of MLTX. Hsbc Holdings PLC purchased a new stake in MoonLake Immunotherapeutics in the 4th quarter worth $147,000. Virtu Financial LLC purchased a new position in shares of MoonLake Immunotherapeutics during the fourth quarter valued at about $166,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter worth about $47,000. Vident Advisory LLC bought a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter worth about $204,000. Finally, Virtus Investment Advisers LLC lifted its position in shares of MoonLake Immunotherapeutics by 595.8% in the fourth quarter. Virtus Investment Advisers LLC now owns 17,987 shares of the company’s stock worth $237,000 after buying an additional 15,402 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.