Needham & Company LLC Issues Positive Forecast for MoonLake Immunotherapeutics (NASDAQ:MLTX) Stock Price

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) had its price target raised by investment analysts at Needham & Company LLC from $62.00 to $66.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's price objective indicates a potential upside of 66.20% from the stock's previous close.

Other equities research analysts have also recently issued reports about the company. HC Wainwright restated a "buy" rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday. The Goldman Sachs Group raised shares of MoonLake Immunotherapeutics from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $62.00 to $82.00 in a report on Friday, January 17th. Finally, Wedbush reissued an "outperform" rating and set a $73.00 price target (down from $92.00) on shares of MoonLake Immunotherapeutics in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $83.20.

MoonLake Immunotherapeutics Stock Down 4.9 %

Shares of NASDAQ:MLTX traded down $2.05 during trading on Thursday, hitting $39.71. 218,019 shares of the company were exchanged, compared to its average volume of 434,238. The business's 50 day moving average is $46.49 and its 200-day moving average is $48.95. MoonLake Immunotherapeutics has a 1-year low of $37.55 and a 1-year high of $58.26. The company has a market capitalization of $2.54 billion, a P/E ratio of -30.78 and a beta of 1.28.

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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) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.09). As a group, sell-side analysts anticipate that MoonLake Immunotherapeutics will post -1.79 earnings per share for the current year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in MoonLake Immunotherapeutics by 3.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,500 shares of the company's stock worth $460,000 after acquiring an additional 320 shares during the last quarter. 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 valued at $49,000 after purchasing an additional 338 shares in the last quarter. GSA Capital Partners LLP lifted its position in MoonLake Immunotherapeutics by 1.9% during the third quarter. GSA Capital Partners LLP now owns 22,127 shares of the company's stock valued at $1,116,000 after purchasing an additional 403 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of MoonLake Immunotherapeutics by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 58,950 shares of the company's stock worth $3,192,000 after buying an additional 540 shares in the last quarter. Finally, DnB Asset Management AS grew its stake in shares of MoonLake Immunotherapeutics by 11.3% in the 4th quarter. DnB Asset Management AS now owns 8,356 shares of the company's stock worth $452,000 after buying an additional 847 shares in the last quarter. 93.85% of the stock is owned by 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.