MoonLake Immunotherapeutics (NASDAQ:MLTX) Raised to Buy at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of MoonLake Immunotherapeutics (NASDAQ:MLTX - Free Report) from a neutral rating to a buy rating in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage currently has $82.00 price target on the stock, up from their prior price target of $62.00.

A number of other equities research analysts also recently weighed in on MLTX. Wedbush reaffirmed an "outperform" rating and issued a $73.00 target price (down previously from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. HC Wainwright reaffirmed a "buy" rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Friday, January 10th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of MoonLake Immunotherapeutics in a research note on Monday, September 23rd. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $84.29.

MoonLake Immunotherapeutics Price Performance

MLTX traded up $2.03 on Friday, hitting $43.50. 575,442 shares of the stock were exchanged, compared to its average volume of 499,579. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of -33.81 and a beta of 1.31. MoonLake Immunotherapeutics has a 12 month low of $37.55 and a 12 month high of $64.98. The business has a 50-day moving average of $51.79 and a two-hundred day moving average of $48.93.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.56) earnings per share for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.12). During the same period in the prior year, the company earned ($0.18) EPS. Equities research analysts expect that MoonLake Immunotherapeutics will post -1.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MoonLake Immunotherapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in MLTX. FMR LLC lifted its holdings in shares of MoonLake Immunotherapeutics by 35.8% during the third quarter. FMR LLC now owns 4,950,224 shares of the company's stock worth $249,590,000 after purchasing an additional 1,306,215 shares during the period. Logos Global Management LP bought a new position in MoonLake Immunotherapeutics during the 2nd quarter worth $32,978,000. Marshall Wace LLP lifted its holdings in MoonLake Immunotherapeutics by 115.0% during the 2nd quarter. Marshall Wace LLP now owns 1,098,630 shares of the company's stock worth $48,307,000 after buying an additional 587,684 shares during the period. Avoro Capital Advisors LLC grew its position in shares of MoonLake Immunotherapeutics by 7.4% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,770,000 shares of the company's stock valued at $121,797,000 after buying an additional 190,000 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of MoonLake Immunotherapeutics by 596.0% in the second quarter. Millennium Management LLC now owns 216,964 shares of the company's stock valued at $9,540,000 after buying an additional 185,789 shares during the period. 93.85% of the stock is currently owned by institutional investors and hedge funds.

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.