Royal Bank of Canada Begins Coverage on MoonLake Immunotherapeutics (NASDAQ:MLTX)

Stock analysts at Royal Bank of Canada assumed coverage on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research note issued on Tuesday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $67.00 price target on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 67.84% from the company’s previous close.

A number of other research firms have also recently commented on MLTX. HC Wainwright reissued a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. Needham & Company LLC upped their target price on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, The Goldman Sachs Group lowered their target price on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $80.50.

MoonLake Immunotherapeutics Stock Performance

MoonLake Immunotherapeutics stock opened at $39.92 on Tuesday. MoonLake Immunotherapeutics has a 52 week low of $36.52 and a 52 week high of $58.26. The stock has a market capitalization of $2.56 billion, a P/E ratio of -30.95 and a beta of 1.31. The stock has a fifty day moving average of $42.90 and a 200-day moving average of $48.10.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.09). On average, research analysts forecast that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Deutsche Bank AG increased its stake in shares of MoonLake Immunotherapeutics by 59.8% in the fourth quarter. Deutsche Bank AG now owns 903 shares of the company’s stock valued at $49,000 after buying an additional 338 shares during the period. Birchview Capital LP acquired a new stake in shares of MoonLake Immunotherapeutics in the fourth quarter valued at about $217,000. KLP Kapitalforvaltning AS bought a new stake in shares of MoonLake Immunotherapeutics during the 4th quarter valued at about $244,000. PEAK6 LLC bought a new stake in shares of MoonLake Immunotherapeutics during the 4th quarter valued at about $271,000. Finally, Mariner LLC bought a new stake in shares of MoonLake Immunotherapeutics during the 4th quarter valued at about $272,000. Institutional investors and hedge funds own 93.85% of the company’s stock.

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.