MoonLake Immunotherapeutics (NASDAQ:MLTX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) have been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $80.45.

Several equities research analysts recently commented on the company. Oppenheimer began coverage on MoonLake Immunotherapeutics in a research report on Tuesday, June 25th. They set an “outperform” rating and a $104.00 price objective on the stock. Wolfe Research downgraded MoonLake Immunotherapeutics from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 26th. HC Wainwright reiterated a “buy” rating and issued a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, September 12th. Needham & Company LLC restated a “buy” rating and set a $62.00 target price on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of MoonLake Immunotherapeutics in a report on Monday, September 23rd.

MoonLake Immunotherapeutics Stock Up 0.3 %

NASDAQ:MLTX opened at $52.00 on Friday. The firm’s fifty day simple moving average is $47.71 and its 200 day simple moving average is $45.08. The stock has a market cap of $3.32 billion, a P/E ratio of -69.33 and a beta of 1.26. MoonLake Immunotherapeutics has a twelve month low of $35.11 and a twelve month high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.11). During the same quarter in the prior year, the company posted ($0.23) earnings per share. On average, analysts expect that MoonLake Immunotherapeutics will post -1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Institutional investors have recently bought and sold shares of the business. Quarry LP purchased a new position in shares of MoonLake Immunotherapeutics in the fourth quarter valued at about $51,000. Bellevue Group AG bought a new position in MoonLake Immunotherapeutics during the first quarter valued at approximately $221,000. DNB Asset Management AS grew its holdings in MoonLake Immunotherapeutics by 29.8% during the 2nd quarter. DNB Asset Management AS now owns 7,372 shares of the company’s stock valued at $324,000 after buying an additional 1,694 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in MoonLake Immunotherapeutics by 50.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,147 shares of the company’s stock worth $371,000 after acquiring an additional 2,067 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of MoonLake Immunotherapeutics during the 1st quarter worth approximately $726,000. 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.