MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Rating Upgraded by The Goldman Sachs Group

MoonLake Immunotherapeutics (NASDAQ:MLTX) was upgraded by investment analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued on Friday, MarketBeat Ratings reports. The brokerage currently has a $82.00 price target on the stock, up from their prior price target of $62.00. The Goldman Sachs Group’s price target suggests a potential upside of 87.17% from the stock’s previous close.

Several other equities research analysts also recently issued reports on MLTX. HC Wainwright reiterated a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Friday, January 10th. Wedbush reaffirmed an “outperform” rating and set a $73.00 price target (down from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, November 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 23rd. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $84.29.

MoonLake Immunotherapeutics Trading Up 5.6 %

Shares of MLTX opened at $43.81 on Friday. The stock’s fifty day simple moving average is $51.63 and its 200 day simple moving average is $49.01. MoonLake Immunotherapeutics has a twelve month low of $37.55 and a twelve month high of $64.98. The firm has a market capitalization of $2.80 billion, a P/E ratio of -33.96 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). During the same period in the prior year, the firm posted ($0.18) earnings per share. Sell-side analysts predict that MoonLake Immunotherapeutics will post -1.75 earnings per share for the current year.

Institutional Trading of MoonLake Immunotherapeutics

Several large investors have recently modified their holdings of the business. US Bancorp DE purchased a new position in MoonLake Immunotherapeutics in the third quarter valued at about $44,000. Quarry LP grew its position in shares of MoonLake Immunotherapeutics by 172.7% during the second quarter. Quarry LP now owns 3,000 shares of the company’s stock worth $132,000 after buying an additional 1,900 shares in the last quarter. Barclays PLC increased its stake in shares of MoonLake Immunotherapeutics by 1,269.2% in the third quarter. Barclays PLC now owns 5,641 shares of the company’s stock worth $283,000 after buying an additional 5,229 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in MoonLake Immunotherapeutics by 26.2% in the third quarter. Handelsbanken Fonder AB now owns 13,000 shares of the company’s stock valued at $655,000 after acquiring an additional 2,700 shares in the last quarter. Finally, AlphaCentric Advisors LLC bought a new position in MoonLake Immunotherapeutics during the 3rd quarter valued at $706,000. 93.85% of the stock is currently owned by institutional investors and hedge funds.

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.