MoonLake Immunotherapeutics (NASDAQ:MLTX) Receives Consensus Rating of "Buy" from Brokerages

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) have received a consensus recommendation of "Buy" from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $83.20.

A number of brokerages have issued reports on MLTX. Needham & Company LLC upped their target price on MoonLake Immunotherapeutics from $62.00 to $66.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. HC Wainwright restated a "buy" rating and issued a $100.00 price target on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group reduced their price objective on shares of MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th.

MoonLake Immunotherapeutics Price Performance

MoonLake Immunotherapeutics stock traded down $0.17 during midday trading on Monday, hitting $39.82. 134,832 shares of the stock were exchanged, compared to its average volume of 341,686. MoonLake Immunotherapeutics has a 1 year low of $37.55 and a 1 year high of $58.26. The firm has a market cap of $2.54 billion, a P/E ratio of -30.87 and a beta of 1.28. The company has a 50 day moving average price of $45.74 and a two-hundred day moving average price of $48.78.

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

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE acquired a new stake in shares of MoonLake Immunotherapeutics during the third quarter worth $44,000. Deutsche Bank AG raised its stake in 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 acquiring an additional 338 shares during the period. Birchview Capital LP bought a new position in MoonLake Immunotherapeutics in the fourth quarter worth about $217,000. KLP Kapitalforvaltning AS bought a new position in MoonLake Immunotherapeutics in the fourth quarter worth about $244,000. Finally, PEAK6 LLC acquired a new position in MoonLake Immunotherapeutics in the fourth quarter valued at approximately $271,000. Institutional investors and hedge funds own 93.85% of the company's stock.

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.