MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have been assigned an average rating of “Buy” from the eight analysts that are covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $78.71.

MLTX has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $66.00 price target on shares of MoonLake Immunotherapeutics in a research note on Tuesday, May 13th. Wolfe Research upgraded MoonLake Immunotherapeutics from a “peer perform” rating to an “outperform” rating and set a $61.00 price objective for the company in a research report on Monday. HC Wainwright reiterated a “buy” rating and set a $100.00 target price on shares of MoonLake Immunotherapeutics in a research report on Thursday, February 27th. 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 target for the company. Finally, Wedbush restated an “outperform” rating and set a $80.00 price objective (up from $78.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 13th.

MoonLake Immunotherapeutics Price Performance

Shares of NASDAQ MLTX opened at $38.54 on Friday. The firm’s 50 day simple moving average is $38.45 and its 200-day simple moving average is $44.58. MoonLake Immunotherapeutics has a 12 month low of $31.42 and a 12 month high of $58.26. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of -29.88 and a beta of 1.31.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.13. During the same quarter last year, the business posted ($0.22) EPS. Analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Hedge funds and other institutional investors have recently made changes to their positions in 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 worth $343,386,000 after purchasing an additional 1,391,167 shares in the last quarter. Paradigm Biocapital Advisors LP boosted its stake in MoonLake Immunotherapeutics by 90.3% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,772,211 shares of the company’s stock worth $95,965,000 after purchasing an additional 840,731 shares during the last quarter. Nuveen LLC purchased a new stake in shares of MoonLake Immunotherapeutics during the first quarter worth $26,308,000. Polar Capital Holdings Plc raised its position in shares of MoonLake Immunotherapeutics by 120.0% in the fourth quarter. Polar Capital Holdings Plc now owns 1,100,000 shares of the company’s stock valued at $59,565,000 after buying an additional 600,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of MoonLake Immunotherapeutics by 12.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,343,643 shares of the company’s stock valued at $181,059,000 after buying an additional 363,394 shares during the last quarter. Hedge funds and other 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.