MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives $80.50 Consensus Target Price from Brokerages

MoonLake Immunotherapeutics (NASDAQ:MLTX) has earned a consensus recommendation of “Buy” from the eight research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $80.50.

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

MoonLake Immunotherapeutics Price Performance

MLTX opened at $39.42 on Tuesday. MoonLake Immunotherapeutics has a fifty-two week low of $31.42 and a fifty-two week high of $58.26. The company’s 50-day moving average is $38.67 and its 200 day moving average is $45.60. The firm has a market capitalization of $2.52 billion, a PE ratio of -30.56 and a beta of 1.32.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of MoonLake Immunotherapeutics by 96.2% in the 3rd quarter. State Street Corp now owns 87,637 shares of the company’s stock worth $4,419,000 after acquiring an additional 42,980 shares during the last quarter. Barclays PLC grew its stake in MoonLake Immunotherapeutics by 1,269.2% in the third quarter. Barclays PLC now owns 5,641 shares of the company’s stock worth $283,000 after purchasing an additional 5,229 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of MoonLake Immunotherapeutics by 2.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 79,648 shares of the company’s stock valued at $4,313,000 after purchasing an additional 2,180 shares in the last quarter. Congress Asset Management Co. lifted its holdings in shares of MoonLake Immunotherapeutics by 9.5% during the fourth quarter. Congress Asset Management Co. now owns 72,993 shares of the company’s stock valued at $3,953,000 after purchasing an additional 6,352 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its position in shares of MoonLake Immunotherapeutics by 47.3% in the 4th quarter. Rice Hall James & Associates LLC now owns 111,133 shares of the company’s stock worth $6,018,000 after purchasing an additional 35,664 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.