HC Wainwright Reaffirms Buy Rating for MoonLake Immunotherapeutics (NASDAQ:MLTX)

MoonLake Immunotherapeutics (NASDAQ:MLTX)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a report issued on Friday,Benzinga reports. They currently have a $100.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 115.94% from the company’s current price.

MLTX has been the subject of several other reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of MoonLake Immunotherapeutics in a research report on Monday, September 23rd. Wedbush reiterated an “outperform” rating and set a $73.00 target price (down from $92.00) on shares of MoonLake Immunotherapeutics in a research report on Tuesday, November 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $62.00 target price on shares of MoonLake Immunotherapeutics in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.43.

MoonLake Immunotherapeutics Stock Down 3.9 %

NASDAQ MLTX opened at $46.31 on Friday. The company has a fifty day moving average of $52.17 and a two-hundred day moving average of $48.85. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of -35.90 and a beta of 1.31. MoonLake Immunotherapeutics has a 52 week low of $37.55 and a 52 week high of $64.98.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.12). During the same period in the prior year, the firm earned ($0.18) EPS. Equities research analysts anticipate that MoonLake Immunotherapeutics will post -1.75 EPS for the current year.

Institutional Trading of MoonLake Immunotherapeutics

Several institutional investors and hedge funds have recently made changes to their positions in MLTX. Victory Capital Management Inc. raised its holdings in shares of MoonLake Immunotherapeutics by 16.0% in the second quarter. Victory Capital Management Inc. now owns 174,682 shares of the company’s stock valued at $7,681,000 after acquiring an additional 24,037 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of MoonLake Immunotherapeutics by 2.6% in the second quarter. Federated Hermes Inc. now owns 1,128,428 shares of the company’s stock valued at $49,617,000 after acquiring an additional 28,672 shares in the last quarter. Avoro Capital Advisors LLC raised its holdings in shares of MoonLake Immunotherapeutics by 7.4% in the second quarter. Avoro Capital Advisors LLC now owns 2,770,000 shares of the company’s stock valued at $121,797,000 after acquiring an additional 190,000 shares in the last quarter. Logos Global Management LP bought a new stake in shares of MoonLake Immunotherapeutics in the second quarter valued at about $32,978,000. Finally, Marshall Wace LLP raised its holdings in shares of MoonLake Immunotherapeutics by 115.0% in the second quarter. Marshall Wace LLP now owns 1,098,630 shares of the company’s stock valued at $48,307,000 after acquiring an additional 587,684 shares in the last quarter. 93.85% of the stock is currently 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.