MoonLake Immunotherapeutics (NASDAQ:MLTX) Earns Outperform Rating from Wedbush

Wedbush reiterated their outperform rating on shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) in a research note issued to investors on Tuesday,RTT News reports. They currently have a $80.00 price objective on the stock, up from their prior price objective of $78.00.

MLTX has been the subject of a number of other reports. Royal Bank of Canada initiated coverage on shares of MoonLake Immunotherapeutics in a report on Tuesday, March 18th. They issued an “outperform” rating and a $67.00 price objective 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. The Goldman Sachs Group lowered their price target on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, HC Wainwright reiterated a “buy” rating and set a $100.00 price target on shares of MoonLake Immunotherapeutics in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, MoonLake Immunotherapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $81.67.

MoonLake Immunotherapeutics Stock Performance

Shares of MLTX opened at $38.54 on Tuesday. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of -29.88 and a beta of 1.31. MoonLake Immunotherapeutics has a fifty-two week low of $31.42 and a fifty-two week high of $58.26. The firm has a 50 day moving average price of $38.43 and a 200-day moving average price of $44.97.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG grew its position in shares of MoonLake Immunotherapeutics by 59.8% in the 4th 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 grew 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 worth $86,000 after buying an additional 1,178 shares during the period. Birchview Capital LP purchased a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter worth about $217,000. Legato Capital Management LLC purchased a new stake in shares of MoonLake Immunotherapeutics in the 1st quarter worth about $240,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of MoonLake Immunotherapeutics in the 4th quarter worth about $244,000. 93.85% of the stock is 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.