MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives $81.67 Consensus PT from Analysts

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have been given an average recommendation of “Buy” by the eight ratings firms that are covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $78.71.

Several research firms recently issued reports on MLTX. The Goldman Sachs Group cut their price objective on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Royal Bank of Canada initiated coverage on shares of MoonLake Immunotherapeutics in a research note on Tuesday, March 18th. They set an “outperform” rating and a $67.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 target price on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. Finally, Wedbush reaffirmed an “outperform” rating and set a $80.00 target price (up from $78.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th.

MoonLake Immunotherapeutics Trading Up 4.2%

Shares of MLTX stock opened at $39.20 on Friday. The company’s 50-day moving average price is $38.40 and its 200-day moving average price is $44.65. MoonLake Immunotherapeutics has a twelve month low of $31.42 and a twelve month high of $58.26. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of -30.39 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its earnings results on Monday, May 12th. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.13. During the same period in the previous year, the company posted ($0.22) earnings per share. As a group, equities research analysts predict that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

Institutional Trading of MoonLake Immunotherapeutics

A number of large investors have recently made changes to their positions in MLTX. Deutsche Bank AG increased its stake in shares of MoonLake Immunotherapeutics by 59.8% during the fourth quarter. Deutsche Bank AG now owns 903 shares of the company’s stock worth $49,000 after buying an additional 338 shares during the period. US Bancorp DE increased its position in shares of MoonLake Immunotherapeutics by 114.4% in the 1st quarter. US Bancorp DE now owns 2,208 shares of the company’s stock valued at $86,000 after purchasing an additional 1,178 shares during the last quarter. Quarry LP purchased a new stake in shares of MoonLake Immunotherapeutics in the 1st quarter valued at approximately $94,000. Advisors Asset Management Inc. increased its holdings in MoonLake Immunotherapeutics by 81.7% in the first quarter. Advisors Asset Management Inc. now owns 4,009 shares of the company’s stock valued at $157,000 after buying an additional 1,803 shares during the last quarter. Finally, Birchview Capital LP purchased a new position in MoonLake Immunotherapeutics in the fourth quarter valued at $217,000. 93.85% of the stock is currently owned by hedge funds and other 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.