MoonLake Immunotherapeutics (NASDAQ:MLTX) Given Consensus Recommendation of “Buy” by Brokerages

MoonLake Immunotherapeutics (NASDAQ:MLTX) has received a consensus recommendation of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $80.50.

Several equities analysts recently weighed in on the company. Royal Bank of Canada started coverage on MoonLake Immunotherapeutics in a research report on Tuesday, March 18th. They set an “outperform” rating and a $67.00 target price on the stock. HC Wainwright reiterated a “buy” rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. Needham & Company LLC boosted their target price on shares of MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, The Goldman Sachs Group cut their price target on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th.

MoonLake Immunotherapeutics Price Performance

Shares of NASDAQ MLTX opened at $39.84 on Friday. The company has a market cap of $2.55 billion, a PE ratio of -30.88 and a beta of 1.31. The company has a 50-day simple moving average of $42.25 and a 200-day simple moving average of $47.82. MoonLake Immunotherapeutics has a 12 month low of $36.52 and a 12 month high of $58.26.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC increased its position in shares of MoonLake Immunotherapeutics by 28.1% in the fourth quarter. FMR LLC now owns 6,341,391 shares of the company’s stock worth $343,386,000 after acquiring an additional 1,391,167 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in MoonLake Immunotherapeutics by 12.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,343,643 shares of the company’s stock worth $181,059,000 after purchasing an additional 363,394 shares during the period. Paradigm Biocapital Advisors LP increased its holdings in MoonLake Immunotherapeutics by 90.3% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company’s stock valued at $95,965,000 after purchasing an additional 840,731 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of MoonLake Immunotherapeutics by 13.2% during the 4th quarter. Federated Hermes Inc. now owns 1,280,052 shares of the company’s stock valued at $69,315,000 after buying an additional 149,724 shares during the period. Finally, Marshall Wace LLP grew its position in MoonLake Immunotherapeutics by 7.9% in the fourth quarter. Marshall Wace LLP now owns 1,245,299 shares of the company’s stock valued at $67,433,000 after acquiring an additional 90,914 shares in the last quarter. 93.85% of the stock is owned by institutional investors and hedge funds.

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.