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

MoonLake Immunotherapeutics (NASDAQ:MLTX) was upgraded by equities researchers at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report released on Monday, Marketbeat.com reports. The brokerage currently has a $61.00 price target on the stock. Wolfe Research’s price target points to a potential upside of 51.44% from the company’s current price.

Several other brokerages also recently weighed in on MLTX. Royal Bank of Canada began coverage on MoonLake Immunotherapeutics in a research note on Tuesday, March 18th. They set an “outperform” rating and a $67.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and set a $66.00 price target on shares of MoonLake Immunotherapeutics in a report on Tuesday, May 13th. HC Wainwright reissued a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 27th. Wedbush restated an “outperform” rating and issued a $80.00 price objective (up previously from $78.00) on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. Finally, The Goldman Sachs Group dropped their target price on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, MoonLake Immunotherapeutics currently has a consensus rating of “Buy” and an average target price of $78.71.

MoonLake Immunotherapeutics Trading Up 2.8%

NASDAQ:MLTX opened at $40.28 on Monday. The firm has a market capitalization of $2.58 billion, a PE ratio of -31.22 and a beta of 1.31. MoonLake Immunotherapeutics has a 1 year low of $31.42 and a 1 year high of $58.26. The firm’s fifty day simple moving average is $38.45 and its 200 day simple moving average is $44.62.

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

Institutional Trading of MoonLake Immunotherapeutics

A number of hedge funds have recently modified their holdings of the company. FMR LLC increased its position in shares of MoonLake Immunotherapeutics by 28.1% during the fourth quarter. FMR LLC now owns 6,341,391 shares of the company’s stock valued at $343,386,000 after purchasing an additional 1,391,167 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in MoonLake Immunotherapeutics by 12.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,343,643 shares of the company’s stock worth $181,059,000 after buying an additional 363,394 shares in the last quarter. 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 buying an additional 840,731 shares during the period. Westfield Capital Management Co. LP increased its holdings in MoonLake Immunotherapeutics by 9.4% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,434,770 shares of the company’s stock valued at $56,056,000 after buying an additional 123,151 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of MoonLake Immunotherapeutics by 13.2% in 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 in the last quarter. Institutional investors own 93.85% of the company’s stock.

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.